Jaypee, Shree and Birla cement in race to form JV with Sail

Jaypee, Shree and Birla cement in race to form JV with Sail
Published: 27 March 2006

Three private Indian cement manufacturers -- Jaypee Cement, Shree Cement and Birla Cement — are reportedly in the race to form a joint venture with state-owned Steel Authority of India Limited  to set up a 2.5Mta cement plant. SAIL would have 24 per cent stake in the JV, while the majority 76 per cent stake would be owned by one of the three bidders, sources said. The final decision with regard to selection of joint venture partner will be taken soon by SAIL.