CRH announces termination of negotiations in India

CRH plc announced that it has terminated negotiations with Indian cement producer Jaypee Cement Corporation (Jaypee) regarding the possible purchase by CRH of an equity stake in Jaypee’s Gujarat cement business.

CRH said these negotiations were  terminated as the parties were unable to agree terms. The Irish-based building materials major said that it acknowledges the co-operation of the Jaypee management team throughout the negotiations and due diligence process.

CRH confirmed back in August that it was in talks with Jaypee for its operations in Gujarat consisting of a 3.6Mta clinker plant at Kutch, in the western part of the state with 2.4Mta of cement grinding capacity and a further grinding plant in the east with capacity to produce 2.4Mta.