Jaypee Power board meet over divestment of a cement grinding unit

13 Dec 2022 CW Team

Jaypee group firm Jaypee Power Ventures will hold a board meeting on Monday to consider a proposal to divest its Nigrie cement grinding plant in Madhya Pradesh.

In a regulatory filing, Jaypee Power Ventures informed that a board meeting has been convened to "apprise the board of the recommendations of the Audit Committee to consider the proposal of divestment of Jaypee Nigrie cement Grinding unit."

Separately, Jaypee Group flagship firm Jaiprakash Associates informed that a board meeting has been convened on Monday to apprise the board of the recommendations of the audit committee and the progress on the various divestment initiatives.

Jaiprakash Associates (JAL) presently has an aggregate capacity of around 6 million tonnes per annum (MTPA) and Jaiprakash Power Ventures has around 4 MTPA.

In October, Jaiprakash Associates and Jaiprakash Power Ventures had announced plans to divest their cement business as well as some non-core assets to reduce debt.

Sources had said in October that Adani group was in talks to buy the cement businesses of debt-laden Jaypee Group for about Rs 50 billion as the conglomerate seeks to consolidate its presence in the cement sector.

The ports-to-energy conglomerate has forayed into the cement sector with the acquisition of Ambuja Cements and ACC Ltd to become the nation's second-largest cement maker with annual production capacity of 67.5 million tonnes.

Also Read
Talcher Road – Angul Doubling Project to be Completed Soon
CCI clears Tanweer Infrastructure's acquisition

Real Estate

07 Jul 2026

SNN Estates Expands North Bengaluru Housing Project

SNN Estates has announced an expansion of its SNN Estates Felicity residential project in North Bengaluru following strong buyer demand, with 75 per cent of the first-phase inventory sold within three days of launch.The developer will add 76 apartments in the new phase, taking the project's estimated revenue potential to around Rs 1,000 crore upon completion of Phase 2.Spread across 6.5 acres in Rachenahalli, near Manyata Tech Park, the project comprises 604 apartments in 1.5, 2, 2.5, 3 and 4 BHK configurations. The development includes a 50,000-sq-ft clubhouse with amenities such as sports co..

SCG Drives ASEAN Industrial Transformation Strategy

SCG is strengthening its focus on ASEAN as a key growth region by advancing industrial transformation, enhancing competitiveness and building resilient regional value chains. Thammasak Sethaudom, President and Chief Executive Officer, SCG, highlighted the need for industries to continuously develop capabilities, strengthen resilience and deepen regional cooperation to achieve sustainable long-term growth.SCG views ASEAN as an important growth engine alongside China, supported by favourable demographics, trade connectivity and investment flows. With ASEAN’s GDP projected to grow by around 4.7..

EUROBOND Expands NABL Accreditation to 51 Testing Parameters

EUROBOND, the flagship brand of Euro Panel Products, has expanded the National Accreditation Board for Testing and Calibration Laboratories (NABL) accreditation of its in-house laboratory from 16 to 51 mechanical and chemical testing parameters, making it the only Indian aluminium composite panel (ACP) manufacturer with accreditation covering such an extensive testing scope.The expanded accreditation enables the company to independently test coils, coatings, cores, aluminium composite panels (ACP) and metal composite panels (MCP) in accordance with international standards, including IS, ASTM, ..