Dalmia Cement Bharat Limited (DCBL) has announced the acquisition of its Bokaro cement plant by purchasing 100% of Bokaro Jaypee Cement Limited (BoJCL) for a total enterprise value of Rs1,150 crore (BoJCL was a 74:26 JV of JAL & SAIL). With manufacturing capacity of 2.1 million tonnes per annum (MTPA), the plant will cater to Jharkhand, Bengal and Bihar. With this plant, DCBL's installed cement capacity (including subsidiaries and associates) will reach 24 MTPA by the end of FY15.
Speaking to the media Mahendra Singhi, Group CEO (Cement), Dalmia Bharat Group, said, "Launch of our Bokaro plant is a definite step forward in our endeavour to strengthen focus on the Eastern market and to deepen our pan-India presence. The plant will not only enhance employment opportunities for local people but also add significant value to economic growth in the region."
The Bokaro cement plant will be benchmarked to global thresholds of manufacturing excellence in producing Portland Slag Cement (PSC) under Dalmia Cement brand name.
Amandeep, Business Head and Director, BoJCL added, "Eastern India is a highly promising market with sufficient cement demand. With our state-of-the-art plant at Bokaro, we will ensure seamless cement delivery across Jharkhand, Bengal and Bihar."
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