Cement News tagged under: Ambuja Cements
Gautam Adani raises stake in Ambuja Cements18 April 2024, Published under Cement NewsGautam Adani and his family have made a further investment in Ambuja Cements . Injecting another INR83,390m (US$998.3m) into the business has increased their stake in the cement producer to 70.3 per cent. This follows a previous injection of funds on 28 March this year, raising their stake to 66.7 per cent. According to The Telegraph, this latest investment will help Ambuja accelerate its growth plans which aim to double its cement production capacity from 76.1Mta, as at the end of 202... |
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... |
Geoclean launches two new waste management plants20 March 2024, Published under Cement NewsACC and Ambuja Cements ’ ( Adani Group ) sustainable waste management company, Geoclean, has opened two new facilities. The Ambuja Marwar Pre-processing and Co-processing Facility will convert 220,000t of waste into alternative fuels, increasing the Marwar cement plant’s thermal substitution rate (TSR) to 15 per cent, according to the company. The new facility marks a collaboration between the cement producer and the Ambuja Marwar Farmer Producer Organisation (FPO), which will supply... |
ACL announces new 4Mta plant in Jharkhand23 February 2024, Published under Cement NewsIndia’s Ambuja Cements Ltd (ACL) is investing INR10,000m (US$120.6m) in a new 4Mta grinding plant in Jharkhand’s Godda district, reports The Hindu. According to ACL, the new unit will be located close to Adani Power (Jharkhand) Ltd and forms part of the company’s plans to dispose of fly ash in an environmentally safe way, contributing to a circular economy. ACL currently operates two cement plants in Jharkhand with a combined production capacity of 6Mta. |
Ambuja Cements reports jump in profits YoY31 January 2024, Published under Cement NewsAmbuja Cements Ltd has reported total income of INR45,477.3m (US$547.7m) in the three months ended 31 December 2023, up from INR42,043.7m in the same period a year earlier. Profit after tax came in at INR5136.8m in the December 2023 quarter, versus INR3689.9m in the comparable period in 2022. Total expenses over the same period expanded from INR36,793.2m to INR38,673m, while basic earnings per share increased from INR1.86 in the quarter ended 31 December 2022 to INR2.59 in the same peri... |
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 Cements appoints new CHRO20 December 2023, Published under Cement NewsAmbuja Cements has appointed Manoj Kumar Sharma as its new chief human resources officer (CHRO), effective from November this year. In his new position, Mr Sharma will be responsible for succession planning, HR transformation, leadership development, HR strategy, executive coaching, and talent management. He joins Ambuja from Adani Electricity where he held the role of senior executive vice president of Human Resources. He has also previously worked at Adani Green Energy, Adani Po... |
Ambuja Cements announces green power investment18 December 2023, Published under Cement NewsAmbuja Cements has announced plans to invest INR60,000m (US$723m) in renewable energy, resulting in green power accounting for 60 per cent of its energy requirements. According to the company, 1000MW of solar and wind power projects are planned, including a 600MW solar power project and a 150MW wind project in Gujarat, along with a 250MW solar power project in Rajasthan. This will be achieved by FY25-26 in addition to the company’s existing 84MW of solar and wind power. Ambuja is also ... |