Sagar Cements in acquisition mode.

Sagar Cements Ltd. will acquire a 100 per cent stake in Odisha-based Jajpur Cements Private Ltd. (JCPL) besides 65 per cent stake in Indore-based Satguru Cements Private Ltd (SCPL).

The board of directors of the Hyderabad-based company had approved proposals in this regard at a meeting held recently.

As per the proposal, Sagar Cements will invest Rs. 150 crore in SCPL to set up a green field cements manufacturing plant of one million tonne capacity along with a waste heat recovery power plant at Rs. 426 crore.

Sagar Cements will be holding 65 per cent in the equity share capital of SCPL on completion of these projects.

It will also invest Rs. 108 crore in JCPL in a phased manner to acquire 100 per cent pc shareholding in it and to set up through it a green field grinding unit of 1.5 million tonnes in Jajipur at Rs. 308 crore.