Coal news and updates

UltraTech gets CCI nod to acquire Jaypee’s Sewagram plant

December 23: The Competition Commission of India (CCI) has approved Ultratech Cement Limited’s (Ultratech’s) proposed acquisition of cement plants of Jaypee Cement Corporation Ltd, which comprise an integrated cement unit at Sewagram and a grinding unit at Wanakbori in Gujarat.

Jaypee Cement Corporation Limited is a wholly-owned subsidiary of Jaiprakash Associates Limited (Jaypee).

Both Ultratech and Jaypee are engaged in the manufacture and marketing of various varieties of cement across India. The combined capacity of Sewagram and Wanakbori plants is 4.8 mtpa.

The commission, through its order dated December 20, said it is of the opinion that the proposed combination is not likely to have an appreciable adverse effect on competition in India and, therefore, approved the proposed combination under sub-Section (1) of Section 31 of the Act.