Aditya Birla buys Kanoria chemicals unit for Rs 830 crore
GustaveAdela 
19 MUMBAI: The Aditya Birla Group has acquired the chloro-chemicals unit of Kanoria Chemicals & Industries for Rs 830 crore in an all-cash deal.
The deal will make Aditya Birla Group India’s largest producer of chlor-alkali, a critical input in the aluminium sector, the group’s chairman Kumar Mangalam Birla said on Saturday.
The deal will help boost the supply of feedstock caustic soda, used to make alumina that is refined to produce aluminium, to flagship Hindalco’s aluminium producing unit at Renukoot in Uttar Pradesh. “Kanoria’s plant is located close to Hindalco’s unit in Renukoot.
After meeting the captive requirements, we will sell the rest to units in eastern India which is fast emerging as a growing market for aluminium production,” said Lalit Naik, business head (chemicals).
The aluminum-to-retail group will fund the acquisition mainly by securing debts from financial institutions. Kanoria Chemicals will use the money received from the pestment to persify into newer areas.
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