Piramal Group is planning to diversify its business
India-based Piramal Group has joined the race to buy cement major LafargeIndia’s assets that have recently been put up for sale, reports Deal Street Asia.
Several PE firms and cement companies are already in the fray for the acquisition.
LafargeIndia had initiated plans to sell its entire Indian operations of 11 million tons per annum for an estimated USD 1.5 to USD 2 billion in the last month.
Meanwhile, Piramal Group is planning to diversify its business and is likely to venture in cement market.“From railways to highways and roads, we are looking at several high profile projects taking off in the next 1-2 years. Cement will be the building blocks and at the core of it,” said an official close to the development. “This is a long term business that is unlikely to get disrupted by change in technology,” he added.