Merger with Zuari Cement on cards
HeidelbergCement India is looking at all possibilities to merge Zuari Cement with itself, said the company’s top official. “We were waiting for some amendments in the Minerals Act. If it adds value to it we will consider it and we are looking at all possibilities for the merger. It is definitely on the cards,” Jamshed Naval Cooper, MD & CEO of HeidelbergCement India said.
On the price increase, he said that the company had taken some price increases on cement in past week as the demand was stronger and will further raise price in the next week. He expects cement demand to improve going ahead in February. Speaking on the company’s expansion, Cooper said that the company continues to scout for inorganic growth.
“We got mining lease in September 2020 in Gujarat and now we are working on Ministry of Environment, Forest (MoEF) clearance, so there will be capex on that account. However, in the months to come, we are planning some sustainable capex to debottleneck our plant.”