Nirma Group’s Nuvoco Vistas has completed the Rs.18 billion acquisition of Vadraj Cement by settling dues with lenders led by PNB and Union Bank. The move adds over 20 per cent capacity to Nuvoco’s portfolio, increasing it to around 31 MTPA . Vadraj Cement, formerly owned by ABG Shipyard, includes a 6 MTPA grinding unit in Surat. The acquisition was made via Vanya Corp, a wholly owned subsidiary of Nuvoco, and approved by NCLT. Most funds will go towards repaying financial creditors and other dues.

Contact: Nuvoco Vistas

Tel: +91 (0) 22 6769 2500

Email: secretarial.desk@nuvoco.com

Website: www.nuvoco.com