JK Cement buys production assets of Nihon Nirman, India

JK Cement buys production assets of Nihon Nirman, India
Published: 02 August 2011

JK Cement has acquired the production facilities of Nihon Nirman Ltd from IDBI for INR42 crore. Currently the Company has two Grey Cement plants at Nimbahera and Mangrol with an aggregate installed capacity of 4Mt.

The production facilities were auctioned off by Industrial Development Bank of India as Nihon had defaulted on its loans to the financial institution, JK Cement said.

JK Cement stressed that it has bought only Nihon Nirman’s production facilities, and not taken over the entire company.