Dalmia to acquire Jaiprakash Bokaro stake

Jaiprakash Associates Ltd (JAL) is to sell its 74 per cent stake in its Bokaro Cement joint venture to Dalmia Cement (Bharat).

Bokaro Cement is a 74:26 per cent collaboration between JAL and the Steel Authority of India (SAIL).

The acquisition involves a 2.1Mt cement unit at Bokaro situated in the eastern Indian state of Jharkhand. The joint venture has a 30-year clinker supply arrangement with JAL and a slag supply arrangement for the same period with SAIL.

"With this acquisition, DCBL's current installed capacity (including subsidiaries and associates) will reach 20Mta," Dalmia Cement (Bharat) said in a release.

JAL, the flagship company of the diversified Jaypee Group, is also looking for buyers for divesting its 74 per cent stake in another joint venture with SAIL in Bhilai.