JP Associates to demerge Gujarat, AP cement plants

JP Associates to demerge Gujarat, AP cement plants
Published: 15 November 2011

The Jaypee Group’s cement company, Jaiprakash Associates, approved demerger of its Andhra Pradesh and Gujarat units and merge them into its wholly-owned subsidiary Jaypee Cement Corp that is building a 3Mta plant in Karnataka.

The move is being seen as a prelude to the group’s plan to sell a stake in its cement business. The Japyee Cement Corp will have a capacity of 8.5Mta and plants in three important states of Andhra Pradesh, Gujarat and Karnataka, reports the Economic Times of India.