India’s largest cement maker ACC has announced that the conglomerate has acquired 40% equity stake in Goa-based Alcon Cement Company for Rs 222.5 million.

Alcon has a clinker grinding and cement packing plant in Goa with a production capacity of 500 tonnes a day. It entered into a joint venture with ACC for technical and marketing support.

According to the sources, the equity stake was acquired in the previous quarter. 

Last year, in a similar way, ACC, part of Swiss major Holcim, had bought about 14% equity stake in Rourkela-based Shiva Cement (SCL). 

Stock of ACC closed at Rs 571 on National Stock Exchnage ( NSE). The total volume of shares traded was 267,298 at the NSE (Wednesday).