Sagar Cements completed Jajpur acquisition

India-based Sagar Cement has completed the acquisition of its 100 per cent stake in Jajpur Cements Private Ltd (JCPL).

The company will now start the process of establishing a 1.5Mta greenfield grinding plant in Jajpur, Odisha.

In December, Sagar Cements’ board had approved the investment of INR1.08bn (US$15.6m) in JCPL in a phased manner and to set up the INR3.08bn plant in Jajpur. The new unit is expected to be completed by March 2021.