Nuvoco Vistas, India’s 5th largest cement group, has emerged as the successful applicant to buy Vadraj Cement under the Corporate Insolvency Resolution Process. Vadraj Cement (formerly known as ABG Cement) owns a decommissioned clinker unit (photo) and grinding unit as well as quarries and a jetty in Kutch, Gujarat. Nuvoco aims to refurbish Vadraj’s assets and commence the cement production with 6.0 Mta cacacity within a year. This will increase Nuvoco’s cement capacity by about 24%. The acquisition is subject to approval from India’s National Company Law Tribunal.