Orient in strategic talks to acquire 2Mta plant

Orient Cement is in talks with three companies to acquire a cement plant as part of plans to triple capacity by 2020, a senior company executive has said.

Deepak Ketrapal, managing director of Orient Cement, told local press that "strategic discussions“ are being held to acquire a 2Mta cement plant. The names of the companies were undisclosed. Mr Ketrapal added that Madhya Pradesh and Chhattisgarh are the prime locations.

The acquisition will form part of Orient Cement’s aim to boost capacity from 5Mta to 15Mta by 2020. The plan also involves the establishment of greenfield facilities as well as expanding existing operations. Its new 3Mta plant in Gulbarga, Karnataka, is set to become operational next year.  (Source: LiveMint)