Shree Cement To Acquire RHIPL
Shree Cement Limited has informed that the board of directors of the company at its meeting approved the proposal to acquire 100% equity stake in Raipur Handling & Infrastructure Private Limited (RHIPL) for an aggregate consideration of Rs. 59 crore (subject to closing adjustments).
RHIPL established in the year 2004, owns and operates railway siding at Village Hathbandh, District Raipur, Chhattisgarh as Private Freight Terminal (PFT). The said railway siding is located near to company's cement plant at Baloda Bazar, Chhattisgarh. The acquisition will help Shree Cement better manage its transportation of goods through the rail.