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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

CCU testbeds in Tamil Nadu

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Tamil Nadu is set to host one of India’s five national carbon capture and utilisation (CCU) testbeds, aimed at reducing CO2 emissions in the cement industry as part of the country’s 2070 net-zero goal, as per a news report. The facility will be based at UltraTech Cement’s Reddipalayam plant in Ariyalur, supported by IIT Madras and BITS Pilani. Backed by the Department of Science and Technology (DST), the project will pilot an oxygen-enriched kiln capable of capturing up to two tonnes of CO2 per day for conversion into concrete products. Additional testbeds are planned in Rajasthan, Odisha, and Andhra Pradesh, involving companies like JK Cement and Dalmia Cement. Union Minister Jitendra Singh confirmed that funding approvals are underway, with full implementation expected in 2025.

Image source:https://www.heavyequipmentguide.ca/

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Concrete

JSW Cement gears up for IPO

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JSW Cement has set the price range for its upcoming initial public offering(IPO) at US$1.58 to US$1.67 per share, aiming to raise approximately US$409 million. As reported in the news, around US$91 million from the proceeds will be directed towards partially financing a new integrated cement plant in Nagaur, Rajasthan. Additionally, the company plans to utilise US$59.2 million to repay or prepay existing debts. The remaining capital will be allocated for general corporate purposes.

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Concrete

Cement industry to gain from new infrastructure spending

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As per a news report, Karan Adani, ACC Chair, has said that he expects the cement industry to benefit from the an anticipated US$2.2tn in new public infrastructure spending between 2025 and 2030. In a statement he said that ACC has crossed the 100Mt/yr cement capacity milestone in April 2025, propelling the company to get closer to its ambitious 140Mt/yr target by the 2028 financial year. The company’s capacity corresponds to 15 per cent of an all-India installed capacity of 686Mt/yr.

Image source:https://cementplantsupplier.com/cement-manufacturing/emerging-trends-in-cement-manufacturing-technology/

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