Sagar Cements to file plan for acquiring Andhra Cements soon

11 Aug 2022 CW Team

Sagar Cements will submit a resolution plan for acquisition of Andhra Cements before August 18, and expects to get the necessary clearance for the deal by October.

The directors of Hyderabad-based Sagar Cements had on July 20 approved a proposal to submit a resolution plan in respect of the corporate insolvency resolution process initiated by the Hyderabad Bench of National Company Law Tribunal (NCLB) on an application filed in respect of Andhra Cements Ltd, a ‘corporate debtor’.

“We are filing the resolution plan and cannot reveal much for now,” Sreekanth Reddy. Joint Managing Director, Sagar Cements, told a newspaper. According to industry sources, the deal size could be around Rs 14 billion.

On the timeline, Reddy said, “The resolution plan needs to be submitted before August 18, we should get all the clearances somewhere around end of September to early part of October. So, from whatever little diligence we have done, it looks like it might need about three-months for maintenance before we can start.”

Andhra Cement has 1.65 million tonne capacity for clinker and 1.8 million tonne for grinding at the integrated plant in Dachepalle in Guntur, and 0.8 million tonne grinding capacity in Visakhapatnam.

Sagar Cements had production capacity of 8.25 million tonnes as of end- March 2022. It has targeted achieving 10 million tonnes capacity by FY25.

Infrastructure Transport

27 Jun 2026

Noida Airport Fuels NCR Realty Growth

The start of commercial operations at Noida International Airport has recently emerged as a major trigger for real estate growth across Noida, Greater Noida and the Yamuna Expressway region. The airport is expected to improve regional connectivity and support the next phase of development in eastern NCR.The airport, inaugurated on 28 March, has begun passenger services, while cargo operations are also expected to strengthen its role as an economic and logistics hub. Its operationalisation is expected to reduce dependence on Delhi’s Indira Gandhi International Airport for residents and busine..

thyssenkrupp and GlobalLogic Form AI Alliance

thyssenkrupp AG and GlobalLogic, a Hitachi Group company, have recently formed a strategic alliance to deploy autonomous robotics and Physical AI across heavy industry operations. The partnership aims to improve safety, reduce engineering bottlenecks and accelerate industrial transformation at scale.The alliance brings together thyssenkrupp’s industrial expertise with Hitachi’s innovation capabilities. It includes GlobalLogic, Method and Hitachi America R&D, creating a “Lab-to-Scale” pipeline that connects research, digital strategy, design and enterprise software engineering for i..

Platinum Corp Launches Luxury Suites in Santacruz

Platinum Corp has recently launched Platinum Stellar: Bespoke Presidential Suites, a premium residential project in Santacruz West, Mumbai. The development is positioned as a boutique luxury offering for homebuyers seeking expansive layouts, privacy and personalised living experiences.Located on Main Avenue, the project has been designed as a low-density, high-end residential address with spacious homes starting from 2,500 sq ft and extending to full-floor residences. The project targets HNIs, business owners and legacy residents from the Bandra-Khar-Santacruz belt.Platinum Stellar has been de..