The Hindu Business Line : Reliance Infra to handle ADAG’s cement business

Mumbai, July 21 Reliance Infrastructure Ltd will undertake the cement business for the Anil Ambani group. Earlier, the responsibility was with group company Reliance Natural Resources Ltd.

“With a view to optimising internal synergies and consolidating all our infrastructure and related businesses under one roof, we have decided that our cement business will be implemented by Reliance Infrastructure,” Mr Anil Ambani, Chairman of the group, told shareholders on Tuesday.

Last week, another group company, Reliance Cementation, signed a memorandum of understanding (MoU) with the Maharashtra Government to set up a 5-million-tonne integrated cement plant in Yavatmal district with a grinding unit at Butibouri in Nagpur district, at an investment of Rs 2,250 crore. “This is in addition to the MoUs that we have already signed with the governments of Madhya Pradesh and Gujarat,” he said.

Reliance Infrastructure has acquired a 51 per cent stake in Reliance Cementation Private Ltd from Reliance Natural Resources. Reliance Cementation has become a subsidiary of the company, it said in a communication to the BSE.

The company is pursuing highway projects and plans to build a road project portfolio of over Rs 20,000 crore by 2012-13. Mr Ambani said in the last two years the company has emerged as one of the largest developers of road and highway projects for the NHAI under the build, own and transfer scheme.

Airports

Building regional airports will throw up the next big opportunity for growth in the aviation sector, he said.

“We have been short-listed to bid for several regional airports in the country and have also emerged as the highest bidder for the privatisation of all five brownfield regional projects Maharashtra.”

These airports are at Nanded, Latur, Yavatmal, Baramati and Osmanabad and the scope includes designing, developing, financing, operating and maintaining them.

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