Shiva Cement enters mktng alliance with ACC

Shiva Cement Ltd today said it has offloaded 12 per cent shares and entered into a marketing alliance with ACC Ltd. As a part of the agreement, ACC is going to invest Rs 46 crore in Shiva Cement through conversion of equity and warrants, the company said in a statement.

The funds generated through the conversion would be utilized to expand production capacity to 500,000tpa from the present 130,000tpa. The company would also expand its clinkering capacity to augment its cement production, it added.