Chettinad Cement in acquisition talks - report

Chettinad Cement is to acquire Anjani Portland Cement, according to local press reports.

Citing sources familiar with the situation, Business Line India reported that the deal is expected to be formalised soon.

The acquisition would give Chettinad Cement a company a significant presence in the Andhra Pradesh market.

Anjani Cements has over 1.2Mta capacity in its two plants in Nalgonda district of Andhra Pradesh. It also has plans to establish a greenfield unit in Karnataka.