JOIN USReliance Infrastructure has said that it is in the process of selling its cement business as well as monetising its investment in the roads business.
“The 5.6 million tonnes per annum cement business and related assets of the company will be disposed of through a formal process. The company has shortlisted seven potential buyers from a total of fifteen parties that submitted preliminary expressions of interest. The due diligence process has been commenced and further announcements will be made at the appropriate stage,” Reliance Infrastructure said.
The company’s investment of Rs 8,800 crore in its 100 per cent owned roads business, comprising 11 revenue generating projects of approximately 1,000 kilometre across seven states, will be appropriately monetised, the company said.