CRH to enter India
After several failed attempts with different players, Jaiprakash Associates reportedly have got Irish building materials group CRH Plc. enter into India with them. As per reports the Irish group has entered the fray to buy Jaiprakash Associates’ cement plants in Gujarat and Andhra Pradesh.
Jaiprakash Associates, a diversified Delhi-based conglomerate with interests in cement, power, infrastructure, real estate, construction and hospitality, had separated its cement units in Gujarat and Andhra Pradesh into a separate company last year.
The deal would bring much needed relief to Jaiprakash Associates as it is expected to fetch Rs 8,000-9,000 crore for Jaiprakash Associates and will benefit the company reducing its total consolidated debt of about Rs 45,000 crore.
The deal will also provide a window to CRH to expand operations in India.
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Source: Times of India
Andhra Pradesh, Buildings, cement plants, conglomerate, consturction, CRH Plc., Delhi, Gujarat, Hospitality, India, Infrastructure, Irish group, Jaiprakash Associates, Realty News, Realty sector
