JK Cement bids for Nihon Nirmaan Ltd white cement plant

JK Cement Ltd has announced that in respect to Public Notice dated November 27, 2006 issued by Industrial Development Bank of India Ltd (IDBI) for inviting bid for sale of assets of white cement plant of Nihon Nirmaan Ltd having installed capacity of 80000 tpa situated at Village Gotan, District Nagaur in the State of Rajasthan, of which IDBI had taken possession in accordance with the provisions of the Securitization and Reconstruction of Financial Assets and Enforcement of Security Interest Act, 2002 and under the Security Interest (Enforcement Rules), 2002, the Company had made a bid for the same. The Company has been the successful bidder for the same and the Company's bid has been accepted at Rs 42 Crores. The company is taking necessary steps as mentioned in the bid documents.

Source : Equity Bulls

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