Dalmia Cements hikes stake in OCL India to 74.6%

NEW DELHI: To consolidate its cement operations, Dalmia Cement (Bharat) Ltd has raised stake in OCL India, a building material maker in the East, to 74.6 per cent through inter-se transfer.

The company had 48 per cent stake in OCL India, which has plants in Odisha and West Bengal with a combined capacity of 5.35 million tonnes per annum (mtpa).

"DCBL has increased its stake in OCL India from 48 per cent to 74.6 per cent through inter-se transfer," it said in a release.

The move would help, DCBL claimed, in catering better operational synergies across Group's footprint. It is a step forward in the commitment towrads aligning all stakeholders' interests and overall value creation.

With this consolidation, the group's regional capacity mix stands at 48 per cent in South and 52 per cent in East and North East.

The company said its ongoing greenfield projects along with acquired capacities will take the group capacity to around 24 million tonnes in 2015-16.

Along with its subsidiaries and associate, it has 17 mtpa capacity now.