JSW Ispat to buy Heidelberg Cement's grinding unit

In Maharashtra, JSW Ispat Steel is planning to buy Heidelberg Cement’s grinding unit for an undisclosed price. The company on May 21 approved a proposal for the acquisition of the cement grinding facility of Heidelberg Cement India at Dolvi in Raigad district of Maharashtra, adjacent to the company’s steel plant.

The acquisition is proposed by way of a 'slump sale’ and would be subject to obtaining necessary approvals and completion of due diligence. The cement grinding facility at the cement unit has an installed capacity of 0.60 mtpa. Its acquisition would enable JSW Ispat to develop a stable outlet for evacuation of steel plant slag. The company also said it intended creating additional grinding facility.