Jaiprakash Associates Limited (JAL) is selling its 2.1 million tonne per year capacity split grinding plant at Bhilai, Chattisgarh to Shree Cements Limited for an enterprise value of Rs 21-22 billion. This is an attempt on the part of JAL to service its Rs 400 billion debt. JAL is finding it difficult to service debt due to various reasons, including a slowdown in the economy and some of its projects failing on the revenue front. In 2014, JAL had signed an MoU to sell the plant to Shree Cement but the deal did not materialise. JAL has agreed to divest its stake of 74 per cent in the joint venture (JV) to Steel Authority of India Limited as financial pressure has increased. Jaypee Cement has loans of Rs 6 billion and is expected to realise a net value of around Rs 16 billion, after adjusting the debt. Of this, JAL is expected to net around Rs 12 billion, which will be used for repaying loans from banks.