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Corporate News
12-Dec-22
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Jaiprakash Associates to divest identified cement, clinker and power plants for Rs 5666 cr
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Jaiprakash Associates announced that in line with the continuing endeavour of Jaypee Group's resolve to reduce its debt, a
binding Framework Agreement has been signed today, the 12 December, 2022, by Jaiprakash Associates (JAL) & its associate company, namely, Jaiprakash Power Ventures, for divestment of the identified Cement, Clinker and Power Plants having aggregate cement capacity of 9.4 MnT, along with Clinker capacity of 6.7 MnT and Thermal Power plants of aggregate capacity of 280 MW, to Dalmia Cement (Bharat) (DCBL), wholly owned subsidiary of Dalmia Bharat, for an aggregate Enterprise Value of Rs.5,666 crore. The said plants are situated at Madhya Pradesh, Uttar Pradesh, and Chhattisgarh.
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