JSW Cement pips rivals to acquire India Cements’ Madhya Pradesh operations
A few weeks back, media reports had said that India Cements was in talks with several players to sell the Madhya Pradesh project. Besides JSW Group, UltraTech Cement and Adani Group were also in the race to acquire the asset.Springway Mining, a wholly-owned subsidiary of India Cements, owns limestone-bearing land in the Panna district of Madhya Pradesh and is in the process of setting up a cement plant in the state.
