Nuvoco Vistas to buy Vadraj Energy for Rs 200 crore to secure captive power
MUMBAI: Nuvoco Vistas Corp, an eastern India cement producer that had bought LaFarge’s operating assets nine years ago, is buying Vadraj Energy (Gujarat) for Rs 200 crores from JSW Cement and Alpha Alternatives Holdings, the company said in a regulatory filing Tuesday.
Vadraj Energy has power plants in Surat and Kutch, and Nuvoco will be using these for its captive consumption. The deal will be done in cash and is expected to be completed in 10 days.
