Rediff Logo
 Money
Line
Channels: Astrology | Broadband | Contests | E-cards | Money | Movies | Romance | Search | Wedding | Women
Partner Channels: Bill Pay | Health | IT Education | Jobs | Technology | Travel
Line
Home > Money > Reuters > Report
June 20, 2001 		Feedback  
  Money Matters

 -  Business Special
 -  Business Headlines
 -  Corporate Headlines
 -  Columns
 -  IPO Center
 -  Message Boards
 -  Mutual Funds
 -  Personal Finance
 -  Stocks
 -  Tutorials
 -  Search rediff

    
      

 
Reuters
 Search the Internet
         Tips
 Sites: Finance, Investment
E-Mail this report to a friend
Print this page

Uttar Pradesh sells two cement units to Grasim

The government of Uttar Pradesh said it planned to sell two of its cement units to Grasim Industries, the country's third-largest cement maker, for Rs 2.41 billion.

"The decision to privatise the Uttar Pradesh Cement Corporation was taken as a part of our commitment to revive the state's dying cement industry ," state Chief Minister Raj Nath Singh told a news conference on Tuesday.

"This would also reopen fresh avenues for employment. Grasim proposes to bring the factories back to life and resume production within the next six months," he said.

The unit situated at Dalla has a capacity of 0.43 million tonnes and the one at Chunar 1.68 million tonnes. Grasim will pay Rs 2.41 billion for the two plants, the state's industrial production commissioner A P Singh said.

Grasim shares ended flat at Rs 318.20 on the Bombay exchange on Wednesday, while the 30-share benchmark index ended marginally lower at 3,406.05 points.

Back to top
(c) Copyright 2000 Reuters Limited. All rights reserved. Republication or redistribution of Reuters content, including by framing or similar means, is expressly prohibited without the prior written consent of Reuters. Reuters shall not be liable for any errors or delays in the content, or for any actions taken in reliance thereon.

Tell us what you think of this report