*Jaiprakash Associates*’ cement division, is trying to acquire a controlling stake in *Zawar Cement*’s defunct grinding unit at Wadi, in Karnataka’s Gulbarga district.
Zawar Cement had in turn bought the Wadi unit from *ACC*. Jaypee is expected to set up a 2.5 mn tonnes per annum (mtpa) grinding unit in this plant to be commissioned this year. The present capacity of the (Wadi) plant is 0.6 million tonne, which has been defunct for a long time. It supposedly has lime stone reserves of 180 million tonne. However, the limestone mine lease may need to be renewed. Transaction Note Jaypee Cement has a capacity of 25 mtpa and expects to end this financial year with a capacity of 36.5 mtpa. At present, its business is concentrated in the northern belt. It is looking to expand cement supply in Karnataka and Maharashtra though the Wadi acquisition. The Zawar Group, based out of Pune, has business interests in cement, power, mineral water and real estate. Zawar had launched a Rs 2,400 crore project for modernisation and expansion work at the plant. Production capacity was supposed to further increase to 5 mtpa and include installation of a 50 mw thermal power plant. -- Regards Hardik Shah -- You received this message because you are subscribed to the Google Groups ""GLOBAL SPECULATORS"" group. To post to this group, send email to [email protected]. To unsubscribe from this group, send email to [email protected]. For more options, visit this group at http://groups.google.com/group/globalspeculators?hl=en.
