Manoj Gaur, executive chairman of Jaiprakash Associates tells CNBC-TV18 that that the company is on the look-out for a strategic investor in the cement business. This comes against the company board decision to hive-off the Andhra Pradesh and Gujarat plants in an attempt to reduce debt on books of the parent company.
Speaking to the channel, he says that cement capacities other than ones in Gujarat and AP will remain with the parent company.
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