Cement makers may get aggressive with CCI’s Madhya Pradesh plant bid
A mothballed cement plant in Madhya Pradesh could witness some bidding interest from manufacturers with interests in Central and Western India.
The Cement Corporation of India (CCI) has called for Expression of Interest (EoI) for sale of its non-operating unit in Nayagaon in Madhya Pradesh on an ‘as-is-where-is’ basis. The government has appointed Deloitte Touche Tohmatsu to run the process of identifying buyers.
“It is a early 1980s vintage unit with a capacity to make 4 lakh tonnes of cement a year. The main issue could be the energy efficiency of the unit, while the big positive is that it is bang in the heart of limestone reserves,” sources said.
Deloitte has set a minimum net worth of Rs 200 crore from bidders with a deadline of April 16.