The combined capacity of both the divisions is 4.8 million tonnes along with 57.5 MW coal-based thermal power plant, limestone reserves of over 90 years at current capacity and a captive jetty at Sewagram, reported PTI.
"With this acquisition of 4.8 million tonnes per annum, the company's current capacity increases to 59 million tonnes per annum. With projects underway it will stand raised to 70 million tonnes by 2015," UltraTech Cement Chairman Kumar Mangalam Birla said. UltraTech Cement has said that it will issue equity to the shareholders of Jaypee Cement.
The proposed transaction is subject to approval of shareholders and creditors, sanction of the Scheme of Arrangement by the High Courts, approval of the Competition Commission of India besides other statutory approvals.
Dion Global Solutions Ltd.