Shree Cement to acquire railway siding operator

The board of India’s Shree Cement Ltd has approved the acquisition of Raipur Handling and Infrastructure Pvt Ltd, a private railway siding operator, for INR590m (US$8.8m).

The acquisition will help the company improve the management of goods transportation on the railway network, according to a stock exchange disclosure. While the deal is subject to the approval from railway authorities, it is expected to be completed within three months of the execution of a definitive agreement, according to VC Circle.

Raipur Handling and Infrastructure operates a railway siding at the freight terminal in Hathbandh station, Raipur. The terminal is close to Shree Cement’s Baloda Bazar facility in Chhattisgarh.