Cement News tagged under: Adani Group
Ambuja Cements acquires 1.5Mta Tuticorin grinding unit16 April 2024, Published under Cement NewsAmbuja Cements , part of the Adani Group , has signed a definitive agreement to acquire a 1.5Mta grinding unit from My Home Industries Group . The deal, which involves the Tuticorin facility in Tamil Nadu, India, has an estimated value of INR4137.5m (US$49.6m), which will reportedly be funded through internal accruals. The acquisition will take Adani Group’s total cement production capacity to 78.9Mta and will enhance the company’s coastal footprint across the southern markets of Tam... |
Ambuja and ACC cements gain GRIHA recognition15 April 2024, Published under Cement NewsAmbuja Cements and ACC have achieved certification for their sustainable blended cement products and are now enlisted in GRIHA's Product Catalogue. According to the companies, this underscores their leading role in green cement production and commitment to achieving net zero emissions by 2050. GRIHA Council is an independent society developed for the promotion and adoption of sustainable habitats in the Indian subcontinent. It was established in 2007 with the combined efforts of the ... |
Gautam Adani injects US$799m into Ambuja28 March 2024, Published under Cement NewsGautam Adani and his family have invested a further US$799m in Ambuja Cements Ltd , raising their stake in the cement producer to 66.7 per cent. According to Bloomberg News, the move is indicative of the billionaire’s confidence in the cement business as India undergoes an infrastructure boom. Adani first acquired a controlling stake in Ambuja Cements Ltd and ACC Ltd in 2022 for US$10.5bn. This latest investment will help Ambuja Cements increase its production capacity to a target 1... |
Adani Group ponders new cement plant in Godda22 January 2024, Published under Cement NewsAdani Group is considering to build a cement plant in Santhal Pargana, having set up a 1600MW thermal power plant in Godda that will come on-stream mid-2024. A company spokesperson said: “In keeping with our groups expansion plans, we are considering a feasilbility study to set up a cement plant, most probably in Godda.” The proposed plant will use fly ash from the company’s existing power plant. Currently, an ACC plant, acquired lat year by the group, is receiving the fly ash as a ... |
Ambuja Cements to invest INR14bn in 6Mta Telangana plant18 January 2024, Published under Cement NewsAmbuja Cements will invest INR14bn (US$168.3m) in the construction of a 6Mta cement plant in Telangana, India. The plant will be built on a 70-acre plot, said the company in a regulatory filing. Ambuja Cements is part of the Adani Cement Industries and operates 36.5Mta of cement capacity installed in 16 cement plants across India. |
Ambuja Cement to add 1GW of renewable energy22 December 2023, Published under Cement NewsAmbuja Cement ( Adani Group ) has announced a plan to add 1GW of solar and wind generation capacity. The company will invest INR60bn (US$72m) in solar and wind projects in two Indian states. The line-up of renewables includes a 600MW solar PV project and a 150MW wind project in Gujarat, as well as a 250MW solar PV project in Rajasthan. Ambuja Cement said the addition of solar and wind generation capacity will be achieved by the FY25-26 while the company reach 200MW of renewable capacity... |
Adani Group commits to investment in Bihar15 December 2023, Published under Cement NewsThe Adani Group has announced plans to invest an additional INR87,000m (US$1046m) in the Indian state of Bihar. The money will be spent across a number of sectors, including its cement business. So far Adani has invested around INR8500m in the Bihar region but plans to create an additional 10,000 jobs in the state through its spending plans, according to The Telegraph. “Bihar is now an attractive investment destination in the country. We are currently present in logistics, gas distribu... |
Adani reduces use of wholesalers10 October 2023, Published under Cement NewsIn a bid to boost profitability, Ambuja Cements Ltd and ACC Ltd has reduced the number of distributors it uses in the Gujarat region of India from 12 to three. The move is part of a trial by the Adani Group to reduce its reliance on distributors or wholesalers, reports Live Mint. According to local sources, the cement producers plan to build stronger relationships with retailers, the last point of sales for cement. For large bulk projects, such as a flyover, sales will also now be h... |
Adani Group updates expansion plans following SIL acquisition04 August 2023, Published under Cement NewsThe Adani Group has provided an update on its plans following the announcement of its acquisition of a majority stake in Sanghi Industries Ltd (SIL). According to The Telegraph, the group plans to expand the captive port capacity of Sanghipuram to accommodate vessels of 8000dwt. Sanghi Cement runs a 6.1Mta plant at Sanghipuram which is connected to a captive jetty at Sanghipuram. The plan is to depend and expand the port’s capacity to handle larger vessels, along with the creation of bulk ... |
Ambuja Cement reports revenue of US$4746m29 June 2023, Published under Cement NewsAmbuja Cement , part of the Adani Group , has reported revenue from operations of INR389,370m (US$4746m) in FY22-23. EBITDA came in at INR58,600m, with an EBITDA margin of 15 per cent, while profit before tax stood at INR37,290m. The company has changed its financial year end so these latest results cover 1 January 2022 to 31 March 2023, a total of 15 months, so are therefore not comparable with the figures for the 12 months ended 31 December 2021. Profit after tax was reported as INR3... |