Dalmia to acquire Jaiprakash Bokaro stake

Dalmia to acquire Jaiprakash Bokaro stake
Published: 25 March 2014


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.