Despite teaming up with the world’s second largest cement producer, Holcim, Gujarat Ambuja Cements (GACL) is in no mood to slow down its expansion plans.
The country’s fourth largest cement maker is looking at a major acquisition, preferably in central India, which could be sealed in the current year.
The company has earmarked around Rs 1,000 crore to fund its inorganic growth plans. GACL, which is a dominant player in the northern and western markets, is keen to enter new markets like UP.
"We are a strong player in the western and northern markets, but do not have much of a presence in central India. We would like to make our debut there, and strengthen our position further in the North and West as well," says GACL executive director Anil Singhvi.
Industry observers say that the strategic tie-up with Holcim would boost its bid to go in for acquisitions. "Following the deal with Holcim, we are in a better position to look at acquisitions," Mr Singhvi added.