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Tue June 22 2021

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CRH JV buys Indian cement firm

13 Aug 13 CRH’s 50:50 joint venture in India, My Home Industries (MHIL), has reached an agreement to acquire all the shares of Sree Jayajothi Cements Limited (SJCL).

SJCL is based in South India and produces 3.2 million tonnes a year of cement at a value of INR14,000m (£148m). CRH’s equity interest will amount to approximately €35m (£30m).

With the addition of SJCL, MHIL becomes the market leader in the Andhra Pradesh region of South India.

CRH entered the Indian market in 2008 with the acquisition of a 50% stake in MHIL, a cement business located in Andhra Pradesh. MHIL has an annual cement capacity of 4.8 million tonnes from two plants.

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