Four units of Cement Corporation of India up for grabs

The government has invited expressions of interest (EOI) for the sale of four non-operating units of Cement Corporation of India (CCI) and has sought response to its proposal latest by today (2 September 2013).

The four non-operating units, situated at Mandhar, Akaltara, Nayagaon and Kurkunta, will be sold on an outright basis and EOIs have been invited on a global level.

SBI Capital Markets Ltd has been appointed merchant banker for the sale.

''These units are intended to be sold on ''as is where is'' basis, without any existing liability and with no restriction on post-sale use, etc. These units are having mineral reserves, which are sufficient for useful life of the plants for manufacturing of cement and are also having basic infrastructure, colony and land etc in prime location,'' CCI said in an advertisement published in newspapers.

Existing cement manufacturers can enhance their production capacity by purchasing these units, which have very rich deposits of best quality limestone, the release said, adding, the locational advantages of these units will also attract real estate and other investors to sell land for industrial/ commercial/ residential purposes.

CCI has also invited manufacturers and suppliers of original equipment or authorised agents of earth-moving equipment for supply of these items to its three operating units at Tandur (AP), Rajban (HP) and Bokajan (Assam).