Birla cements deal with Reliance

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Reliance Infrastructure has sold its 100% stake in Reliance Cement to Birla Corporation for ₹48 billion (US$700 million).

Cement_brick_layingReliance Cement has an integrated cement capacity of 5.08 million tonnes a year at Maihar in Madhya Pradesh and Kundanganj in Uttar Pradesh, and a 500,000-tonne-a-year grinding unit at Butibori in Maharashtra. The parties signed the share purchase agreement on 4 February and closing is subject to regulatory approvals.

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