Sagar Cements to submit acquisition plan for Andhra Cements

Sagar Cements will submit a resolution plan for its acquisition of Andhra Cements before 18 August 2022. According to The BusinessLine, the company hopes to receive the necessary clearances by October this year but also expects to require around three months for maintenance works at Andhra Cement’s plants in Dachepalle and Visakhapatnam.

Although Sagar Cements claims it cannot reveal more information at this stage, the deal is believed to be worth around INR14,000m (US$176m). Sagar Cements has a current cement production capacity of 8.25Mta which it aims to increase to 10Mta by FY24-25.