R-Infra to sell part of cement biz
Cement

R-Infra to sell part of cement biz

Reliance Infrastructure has decided to monetise its cement business, Reliance Cement, to fund the acquisition of Pipavav Defence and Offshore Engineering, which it is acquiring for Rs 2,082 crore. The company is in talks with two international cement companies, Heidelberg and Italcementi, and has offered a 50 per cent stake in the company. The prospective JV partner will also fund the company´s cement capacity expansion-estimated to rise from 5 mtpa to 15 mtpa by 2018.

Contact: Reliance Infrastructure. Website: www.rinfra.com

Reliance Infrastructure has decided to monetise its cement business, Reliance Cement, to fund the acquisition of Pipavav Defence and Offshore Engineering, which it is acquiring for Rs 2,082 crore. The company is in talks with two international cement companies, Heidelberg and Italcementi, and has offered a 50 per cent stake in the company. The prospective JV partner will also fund the company´s cement capacity expansion-estimated to rise from 5 mtpa to 15 mtpa by 2018. Contact: Reliance Infrastructure. Website: www.rinfra.com

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