Reliance Infra to handle ADAG’s cement business
Reliance Infrastructure Ltd will undertake the cement business for the Anil Ambani group. Earlier, the responsibility was with group company Reliance Natural Resources Ltd.
“With a view to optimising internal synergies and consolidating all our infrastructure and related businesses under one roof, we have decided that our cement business will be implemented by Reliance Infrastructure,” Mr Anil Ambani, Chairman of the group, told shareholders on Tuesday.
Last week, another group company, Reliance Cementation, signed a memorandum of understanding (MoU) with the Maharashtra Government to set up a 5Mt integrated cement plant in Yavatmal district with a grinding unit at Butibouri in Nagpur district, at an investment of Rs 2,250 crore. “This is in addition to the MoUs that we have already signed with the governments of Madhya Pradesh and Gujarat,” he said.
Reliance Infrastructure has acquired a 51 per cent stake in Reliance Cementation Private Ltd from Reliance Natural Resources. Reliance Cementation has become a subsidiary of the company, it said in a communication to the BSE. Published under Cement News
