Scancem snaps ties with Narmada

MUMBAI, June 29: Scancem, the Norwegian cement giant, has decided to part ways with Narmada Cement, with whom Scancem was proposing an equity collaboration for its ambitious expansion plans. Scancem had earlier agreed to pick up a crucial 25 per cent in Narmada Cements, and part-fund plans to double cement output to 3 million tonnes. With the new development, Scancem has terminated the earlier commitment to pump in equity in Narmada Cements.