HeidelbergCement reportedly in talks for Jaiprakash unit

HeidelbergCement is reportedly in talks to buy Jaiprakash’s Sikandarabad unit in Uttar Pradesh, according to local media.

“Heidelberg is in advanced stages of negotiations with JP Associates to buy the 1Mta Sikandarabad cement unit for around INR500 crore,” an industry source aware of the development told the Financial Express (India).

Jaiprakash Associates has already ivested its cement plants in Gujarat, Madhya Pradesh, Haryana (Panipat) and Jharkhand (Bokaro) to reduce its debt pile.