Rajasthan based Binani Cement is likely to acquire a cement firm in Turkey
for around Rs 1,000 crore as part of its strategy to more than double its
production capacity by two years.
Currently, Binani is holding talks with the overseas company. However,
identity of the Turkish company has not been disclosed. According to sources,
the target company has an annual production capacity of two million tpa and the
deal is likely to be finalised by March 2010.
Recently, the Board of Directors of Binani has given its consent to the
foreign acquisition which is likely to be financed equally by internal accruals
and debt. The company has been working on a plan to ramp up its annual capacity
from 6 to 14 million tpa by 2012.
Also See:
Binani Cement
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