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Binani to sell 40% in cement arm to cut debt, expand

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To sell up to 40 per cent stake in its subsidiary Binani Cement, Binani Industries is in talks with potential financial investors such as JP Morgan and State-owned funds in the Middle East.

It seeks to raise capital to cut debt and expand cement capacities. Ernst & Young (E&Y), Braj Binani group’s banker for the transaction, has held preliminary talks with the prospective investors, sources said. E&Y will soon approach the investors with a document detailing the acquisition opportunity, one person said. Sunil Sethy, Executive Vice-Chairman and Managing Director, Binani Industries said that the company has taken an in-principal approval from the board to divest its holding up to 40 per cent to financial investors on a structured basis to facilitate its liquidity position and to consolidate its growth plans. E&Y, among others, is assisting Binani by talking to prospective financial investors. The divestment is on a structured and phased manner and the firm hopes to complete it within the next few weeks, said Sunil Sethy. The potential investors may include Abu Dhabi Investment Authority and Qatar Investment Authority. The company, with a capacity of 11.25 mtpa, has a 2 mtpa grinding unit in Dubai’s Jebel Ali Industrial Area and wants to scale up its capacities in China and Dubai. Its expansion plans include increasing domestic capacity by 3 mtpa and plants are located in Rajasthan.

Contact: Binani Cement.

Tel: 91 141 4134300 / 4124 300.

Website: www.binaniindustries.com

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Concrete

thyssenkrupp Polysius, SaltX partner for electrified production

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thyssenkrupp Polysius and Swedish startup SaltX have signed a Letter of Intent (LOI) to co-develop the next generation of electrified production facilities, advancing industrial decarbonisation. Their collaboration will integrate SaltX’s patented Electric Arc Calciner (EAC) technology into thyssenkrupp Polysius’ green system solutions, enabling electric calcination, replacing fossil fuels with renewable energy, and capturing CO2 for emission-free production. Dr Luc Rudowski, Head of Innovation, thyssenkrupp Polysius, emphasised that this partnership expands their portfolio of sustainable solutions, particularly in cement, lime, and Direct-Air-Capture (DAC). Lina Jorheden, CEO, SaltX, highlighted the significant CO2 reduction potential, reinforcing their commitment to sustainable industrial processes.

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Concrete

Terra CO2 secures $82m to scale low-carbon cement technology

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Terra CO2, a US-based sustainable building materials company, has raised $82 million in Series B funding, co-led by Just Climate, Eagle Materials and GenZero, with continued support from Breakthrough Energy Ventures. The investment will accelerate the commercial deployment of Terra’s OPUS technology, enabling the construction of multiple production facilities across North America and Europe. With the cement industry responsible for 8 per cent of global CO2 emissions, Terra’s solution provides an immediate, scalable alternative using abundant raw materials that integrate seamlessly with existing infrastructure. The company has secured key partnerships, including a deal with Eagle Materials for multiple 240,000-tonne plants.

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Concrete

Titan Cement Group enters South Asia

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Titan Cement Group has expanded into the South Asian market through a joint venture with JAYCEE, an India-based producer of supplementary cementitious materials. Titan will hold a majority stake in the newly formed company, Atlas EcoSolutions, which will focus on sourcing, processing, marketing, and distributing SCMs globally. This initiative aims to support sustainable construction by promoting alternatives to clinker-based cement. Jean-Philippe Benard, Head of Supply Chain and Energy Development, emphasised that the venture aligns with Titan’s strategy to lead in low-carbon building materials while reinforcing its commitment to sustainability and innovation. The move strengthens Titan’s position in a high-growth market while ensuring long-term access to SCMs.

 

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