Economy & Market
Shree and Dalmia bidding to buy Binani
Dalmia Bharat and Shree Cement and three other companies have expressed interest in buying Binani Cement's cement manufacturing facility in India. The plants are located in Rajasthan - Sikar and Sirohi. The Braj Binani group company had loans of Rs 3,072.83 crore at the end of March 2016. 'Going by the replacement cost for setting up a million-tonne capacity, a deal for 6 MT should happen between Rs 4,000 - 5,000 crore, assuming all raw materials and linkages are in place,' said an analyst with a brokerage firm.