My Home Industries Private Limited

The Competition Commission of India approved the acquisition of 50% of My Home Industries Private Limited by My Home Constructions Private Limited and its affiliates.

CRH is reportedly in talks to exit its joint venture with India's My Home Group by selling its 50% stake in My Home Industries back to the Indian group. The stake was acquired in 2008 for around US$450 million. My Home Industries operates four cement plants with a total capacity of 9.6 million tonnes per year.

My Home Industries is considering a capacity expansion of up to 50% over the next four years, increasing from 10 Mta to 15 Mta. The company is awaiting board clearance and will decide on investment and location later.

My Home Group proposed to set up another cement plant with a capacity of 1.5 million tonnes in Guntur district of Andhra Pradesh.

My Home Group's cement plant in Tuticorin, Tamil Nadu, with a capacity of 1.23 million tonnes, will commence production by January end 2017. The investment is Rs 250 crore (approx. $37 million).