India’s Adani Group has emerged as the highest bidder in the race to acquire engineering and construction company Jaiprakash Associates (Jaypee), which is currently undergoing insolvency proceedings (we reported here 24. July 2024). According to industry sources, the bid stands at INR 125bn (about US$ 1.4bn) for a package of assets, incl. 10.55 Mta of cement capacity (Photo: Chumar Cement Factory) and corresponding subsidiaries and associates.