CRH announce termination of negotiations in India

Parties unable to agree terms in CRH bid to purchase an equity stake in Indian cement business

CRH plc, the Dublin-based international building materials group, have announced the termination of negotiations with Jaypee Cement Corporation, India’s third largest cement producer.

In August this year CRH announced that they had entered negotiations with Jaypee regarding the possible purchase of an equity stake in company’s cement business in Gujarat, north-west India.

The operations that had been under consideration comprised a 3.6 million tonne clinker plant in western Gujarat and a grinding plant in eastern Gujarat with a capacity to produce 2.4 million tonnes per annum.

In a recent statement, CRH said the negotiations had been terminated as the two parties were unable to agree terms.