India: joint venture partner sought for new proposed plant

India: joint venture partner sought for new proposed plant
Published: 07 November 2011

HeidelbergCement and domestic producers such as UltraTech Cement and Reliance Cements are said to be among those interested in partnering state-run Rashtriya Ispat Nigam’s proposed 3Mta plant at Vizag, southeast India. 

"We are looking for a partner to set up a 3Mta plant at Visakhapattanam. Heidelberg, Ultratech and Reliance Cements have shown interests to be our JV partner," RINL Chairman and Managing Director AP Choudhary, said.

Sources said Zuari Cements, Bhavya Cements, JP Cements and Binani Cements have also shown interests in the joint venture. These firms responded to the Expression of Interest issued by RINL earlier.

"The finalisation of the partner would not take more than 2-3 months from now. We will be able to establish the joint venture before the end of the current fiscal," Choudhary said.