A major cement asset acquisition is set to take place, with cement operations of an infrastructure conglomerate expected to be acquired for more than Rs 2,500 crore, according to sources. The transaction follows the breakup and integration of key businesses of the conglomerate after it was taken over through the insolvency resolution process.

The proposed deal would transfer control of approximately 5.2 million tonnes per annum (MTPA) of cement capacity along with 3.3 MTPA of clinker capacity to the acquiring company. Sources indicated that the buyer has not yet issued an official response to requests for comment.

The buyer had earlier entered into an agreement to acquire these cement assets before insolvency proceedings began. However, that earlier transaction faced multiple hurdles, including legal disputes and shareholder objections, which ultimately stalled the deal.

As part of the current arrangement, a fresh agreement has been signed between the buyer, the seller, and the new owner that emerged from the insolvency process. This agreement aims to fully resolve all outstanding disputes related to the cement business, including pending court cases, arbitration awards, and earlier framework agreements. Sources added that a formal public announcement regarding the transaction is expected in the near future.

Separately, one of the group entities involved holds around 243 acres of land in Kanpur, which has been identified as strategically important for the development of a logistics park and warehousing facilities. The land is expected to play a key role in strengthening inland logistics and supply chain operations in northern India.