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JSW Cement in race to bid for Binani Cement which has 11 mt output capacity

JSW Cement Ltd, a piece of Sajjan Jindal’s $11 billion JSW Group, will collaborate with a worldwide private equity (PE) firm to offer for obligation loaded Binani Cement on Monday.

As indicated by Parth Jindal, MD, JSW Cement, upwards of 11 players including Ultratech and Dalmia are probably going to offer for Binani Cement, which has a creation limit of near 11 million tons (mt), of which almost 6 mt is in India. Binani likewise has a manufacturing and grinding unit in Dubai and a factory in China.

Binani has secured and unsecured debt to the tune of around Rs. 4,500 crore.

“There are a considerable measure of bidders and this will get forceful in light of the fact that no one needs to leave these advantages; we would not have any desire to leave these benefits,” Jindal told newspersons at a question and answer session at Salboni, around 160 km from Kolkata on Sunday.

This separated, JSW Cement is also looking out valuable options to bid for Kalyanpur Cements Ltd a stressed firm also referred to the National Company Law Tribunal (NCLT). The company has an annual capacity of 1 mt.

Brownfield development

JSW Cement is hoping to build a massive manufacturing plant in West Bengal to 3.6 mt for each annum, up from the current 2.4 mt at an expected speculation of Rs. 300 crore. The organization has just contributed near Rs. 800 crore in 2.4 mt pounding plant at Salboni.

It will likewise contribute near Rs. 100 crore for setting up a 18 MW captive power plant.

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