Jaypee reportedly in talks to sell Panipat grinding unit

Holcim, via its ACC arm, is in preliminary acquire the Jaypee Group’s grinding unit in Panipat, Haryana state, two sources familiar with the situation told the Economic Times of India.

The move would expand Holcim’s presence in the north of the country. ACC has a cement plant in nearby Himachal Pradesh, and if JP’s grinding unit is absorbed it would be “beneficial logistically and even in terms of costs,” the ET quoted one source as saying.

A domestic player based in the north of the country is also reported to be interested in the same unit which has a capacity of 1.5Mta, the newspaper reported.

The discussions would be in line with Jaypee group’s strategy of shedding non-core assets and reducing debt. Last year it sold its cement facilities in Gujarat to UltraTech Cement.