Binani Cement Ltd (BCL), flagship of the Rs 1,500-crore Binani Group, has submitted expression of interest (EoI) for a joint venture with National Aluminium Company Ltd (Nalco).
Nalco is scouting for a joint venture partner to set up a cement plant that uses fly ash generated at its captive power plant.It aims to invest Rs 1,000 crore in the facility, which would have a capacity of producing 1,000 tonnes of cement per day.
Other cement majors including Gujarat Ambuja, ACC and L&T are also considering submitting EoIs for the JV, sources said.
A top Binani Cement official confirmed submission of the EoI. However, Vinod Juneja, joint managing director, refused to comment on the move.
Read more in The DNA Money article.
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