Jaiprakash to sell Jaypee Bhilai plant stake to Shree Cement

Industry:    2016-01-07

NEW DELHI: In an attempt to service its Rs 40,000-crore debt, engineering and cement manufacturer Jaiprakash Associates (JAL) has signed an agreement with Shree CementBSE -3.26 % to divest its stake in the 2.1-million tonne Bhilai Jaypee Cement for an enterprise (BJCL) value of Rs 2,100-2,200 crore. Jaiprakash Associate is finding it difficult to service its debt due to various reasons, including a slowdown in the economy and some of its projects falling on the revenue front. In 2014, .. Read more at: http://economictimes.indiatimes.com/articleshow/50479053.cms?utm_source=contentofinterest&utm_medium=text&utm_campaign=cppst

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