Coal news and updates

Reliance Cement Company Private Ltd. (RCCPL) has become a subsidiary of the city-based Birla Corporation Ltd., the company said in a stock exchange filing. “The company has acquired 100 per cent of the equity shares of RCCPL from Reliance Infrastructure Ltd.”

 

In February, BCL had agreed to buy Reliance Infrastructure’s cement business for Rs.4,800 crore. The acquisition takes BCL’s annual capacity from 10 million tons (MT) to 15.5 million tons with a bonus of mineral concessions in M.P., Rajasthan, Karnataka, A.P. and H.P. The mining lease at Mukutban, Maharashtra, allows BCL to set up a 3 MT clinker unit, it said in a statement.

SOurce: The Hindu