Nuvoco Vistas Corp, a key producer of cement in East India, has emerged as the successful applicant to buy Vadraj Cement under the Corporate Insolvency Resolution Process. Gujarat-based Vadraj Cement, formerly owned by ABG Shipyard, has a 6 million tonne grinding unit in Surat and will add to Nuvoco Vistas’ existing production capacity of 25 million tonne by more than 20%.Vadraj Cement also has a clinker capacity of 3.5 million tonne in Kutch in Gujarat along with limestone reserves and a captive jetty.
“With this transaction, Nuvoco’s total cement production capacity is set to increase to approx 31 MMTPA, distributed as 19 MMTPA in the East, 6 MMTPA in the North, and 6 MMTPA in the West, consolidating its position as the…
