ABG International to set up plant in MP
ABG International, which has a 56.16% promoter stake in ABG Shipyard, is setting up cement capacities totalling 4.6Mt in Gujarat, that should be commissioned in two years, via the unlisted ABG Cement.
Analysts said it was possibly for the first time in the history of India Inc, that a group focussed on the shipping sector was expanding into the cement sector. Also, in a strategy that has been employed for more than a decade by Ambuja Cement, ABG Cement plans to leverage its group synergies for transporting cement via ships, from its planned facilities in Gujarat to the markets in western region. Ambuja Cement transports nearly 3.75Mt (both domestic and overseas sales) out of its capacity of 18.5Mt, say analysts. Published under Cement News
