Vedanta Limited said that the board of directors of its indirect subsidiary — Sesa Mining Corporation Limited (SMCL) has sanctioned the company’s approval of Desai Cement Company Private Limited (DCCPL).
The consideration for the acquisition is INR 14 crores.
Desai Cement Company owns a cement manufacturing plant, which has a facility of granulated blast furnace slag /cement – 200 KTPA and ready-mix concrete – 40,000 m3pa.
The cement plant, which is operational, is located at Maina village in Goa, around 1km from Vedanta’s value added business.
Vedanta said that the acquisition will improve its portfolio with cement and help generate additional synergies via vertical integration.
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