Ambuja 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 Tamil Nadu and Kerala.
“We are glad to announce this acquisition, strengthening our foothold in the region and aligning perfectly with our commitment to delivering high-quality products and services to our customers,” said Ajay Kapur, CEO, cement business, Adani Group. “In addition to the infrastructure and geographical advantages, Ambuja Cements will also inherit the existing dealer network and retain current employees, facilitating a smooth transition and enabling the rapid ramp-up of utilisation.”
