Economy & Market

Shree and Dalmia bidding to buy Binani

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Dalmia Bharat and Shree Cement and three other companies have expressed interest in buying Binani Cement’s cement manufacturing facility in India. The plants are located in Rajasthan – Sikar and Sirohi. The Braj Binani group company had loans of Rs 3,072.83 crore at the end of March 2016. ‘Going by the replacement cost for setting up a million-tonne capacity, a deal for 6 MT should happen between Rs 4,000 – 5,000 crore, assuming all raw materials and linkages are in place,’ said an analyst with a brokerage firm.

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