ACC, India’s foremost manufacturer of cement and ready mix concrete, has acquired 40% stake in Goa-based Alcon Cement Company for Rs 22.25 crore.

The company, which is a part of Swiss cement maker Holcim Ltd., has bought out 0.4 million equity shares of Alcon representing 40% of the equity size.

Alcon has a capacity of 500 tonnes a day and has a clinker grinding and cement packing plant in Goa. For past several years, ACC had an arrangement with Alcon for trading cement.

Further, Alcon has also inked a joint venture with ACC for technical and marketing support.

Under the arrangement, the clinker to Alcon’s grinding unit will be supplied from ACC’s Wadi plant, while slag is procured from Sesa Industries to make PSC.

Last year, in a similar manner, ACC had picked around 14% stake in Rourkela-based Shiva Cement (SCL).