Global investment bank Goldman Sachs may buy a strategic stake in the Hyderabad-based Pennar Cements. Pennar Cements has a cement capacity of 4.4 mn tonnes and has been valued at Rs. 2000 crores. Goldman Sachs is reportedly eyeing a stake in Pennar Cements due to the potential of the sector which is poised for explosive growth in the next 3-5 years. Established in 1994, Pennar Cements has two plants with a capacity of 1.7 mn tonnes each. The company also has a 1 mn tonne plant at Nalgonda to primarily cater to demand in the south and south-eastern parts of the country.
Read the Hindustan Times article.
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