Sree Jayajothi Cements new owner to double capacity
Chennai-based engineering company Shriram EPC was forced to buy a 70 per cent stake in its debtor Sree Jayajothi Cements, which could not pay back its dues. Shriram's debt was converted to equity.
Shriram EPC's Managing Director T Shivaraman
told media that doubling capacity at Sree Jayajothi is entirely possible and his company won't be averse to sell off the cement business in the future.
He said that the company's objective right now is to make a good, profitable, successful business out of Sree Jayajothi Cements.