India’s Sagar Cements sells joint venture interest to Vicat

Sagar Cements has sold its interest in 684 Vicat Sagar Cement to French construction materials group Vicat. Vicat Sagar Cement is an India-based joint venture between Sagar and Vicat. Vicat now holds 100% of capital in Vicat Sagar Cement. Vicat Sagar Cement operates a cement works with an annual production capacity of 3 million tonnes. Along with its interest in Bharati Cement, Vicat controls cement production of 8 million tonnes/year in India. Vicat generated turnover of €155 million in the country in 2013, up 12.7% year-on-year. Growth was established at 27.2% in Q1 2014.