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Our Bureau

Mumbai , Jan. 20

THE Board of Directors of Associated Cement Companies will consider a proposal to merge the company's subsidiary Idcol Cement with ACC at its meeting scheduled for January 23 this year.

ACC acquired 86.79 per cent equity stake in Idcol Cement from Industrial Development Corporation of Orissa Ltd., for Rs 176.41 crore about a month ago.

Idcol will also be renamed Bargarh Cement Ltd, said ACC in its notice to the stock exchanges on Tuesday.

ACC has also paid Rs 5.61 crore towards unsecured loans of Idcol, whose capacity is around one million tonnes.

More Stories on : Mergers & Acquisitions | Cement

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