Dalmia Bharat Enterprises Ltd is acquiring upto 50 per cent stake in Assam based Calcom Cement India Ltd for about R238Cr through Dalmia Cement Bharat Ltd.

Calcom Cement was formed as a JV between Kolkata based Vinay Cements and Assam Industrial Development Corporation to set up a 0.99MMTPA clinkerisation unit and 1.72MMTPA cement grinding unit in Assam at an estimated cost of R421Cr. Vinay Cements holds 69 per cent stake in Calcom while AIDC holds 10.5 per cent stake.

Deutsche Investitions und Entwicklungsgesllschaft GmbH and FMO in the Netherlands, have also invested about R30Cr for a 20 per cent stake in the cement maker.

Dalmia Cement Bharat Ltd (erstwhile Avnija Properties Ltd) was incorporated in 1996 and operated as the investing arm for Dalmia Bharat Sugar and Industries Ltd. Till May 2010, Dalmia Group held 100 per cent stake in Dalmia Cements, with equity investments of about R216Cr. In May 2010, Kohlberg Kravis Roberts invested R500Cr in Dalmia Cements.

Last year in October, there were rumors that Dalmia Group may acquire 45 per cent stake in Andhra Cements from GP Goenka but then GP Goenka has entered into a deal with Jaypee Group's subsidiary - Jaypee Development Corporation Ltd to sell a controlling stake in Andhra Cements Ltd