Cement News tagged under: Ambuja Cements
Adani Cements will not require external loans for capex expansion31 August 2023, Published under Cement NewsAdani Cements is looking to rely on operating cash flows and internal accruals to fund its INR460,000m (US$5.5bn) expansion capex over the next five years, without the need for external borrowings. The cement arm of the Adani Group, comprising ACC Ltd and Ambuja Cements , has set an ambitious target to achieve a production capacity of 140Mta by FY28, from the current 67.5Mta. “With the funds available from the cement operations, there is no need to resort to external borrowings for t... |
Ambuja Cement's open offer for Sanghi Industries date set23 August 2023, Published under Cement NewsAndani group-owned Ambuja Cements ' open offer to acquire 26 per cent equity from the public shareholders of Gujarat-based cement maker Sanghi Industries would commence from 29 September, according to a company document. Ambuja Cements Ltd (ACL) would buy 26 per cent equity shares of INR10 (US$0.12) each of Sanghi Industries from its public shareholders for a price of INR114,220m (US$1375) a piece. The offer would be worth up to INR767,160m, according to a Draft Letter of Offer. The... |
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 Cements to acquire Sanghi Industries02 August 2023, Published under Cement NewsAmbuja Cements , part of the Adani Group , has agreed to acquire a majority stake in Sanghi Industries , reports Reuters News. According to sources close to the transaction, the deal is expected to be officially announced today. Sanghi Industries is one of the leading cement producers in the Indian state of Gujarat and currently runs 6.1Mta of cement production capacity. The exact share of the stake and the value of the deal is not yet known. In the quarter ended 30 June 2023, Ambu... |
Adani Group rebuilds investor confidence27 June 2023, Published under Cement NewsThe Adani Group, which owns Ambuja Cements and ACC Ltd , is reportedly targeting 20 per cent YoY growth in pretax profits to INR900,000m (US$10,971m) within the next 2-3 years. According to Live Mint, the growth is expected to come from various sectors, including cement, airports, energy, logistics and power. The group has recently repaid loans amounting to US$2.65bn as part of a prepayment programme to reduce overall leverage and regain investor confidence following a negative report by ... |
Ambuja Cements and ACC scoop sustainability awards26 June 2023, Published under Cement NewsAmbuja Cements and ACC , part of the Adani Group , have been recognised among ‘India's Top 50 Most Sustainable Companies’ by BW Businessworld. Ambuja Cements has also been named among ‘India’s Top 3 Most Sustainable Companies in the Infrastructure and Engineering Sector’ on the back of its “dedication to sustainability and outstanding success”, according to the company. Ajay Kapur, CEO, cement business, said, “We are immensely proud that both Ambuja and ACC have been recognised among... |
Adani Group in talks to refinance loan14 June 2023, Published under Cement NewsIndia's Adani Group is in talks with lenders to refinance up to US$3.8bn of a loan facility taken for its acquisition of Ambuja Cements Ltd last year, according to Bloomberg News. The group is reportedly deciding whether to convert the original loan into debt with a longer maturity period. Although the deal is yet to be finalised, Bloomberg News says the group is expected to conclude the process within four months with most of its existing lenders, including Barclays Plc, Deutsche Ba... |
ACC and Ambuja Cements launch new R&D centre25 May 2023, Published under Cement NewsACC and Ambuja Cements have launched a new research and development (R&D) facility at Kalamboli on the outskirts of Mumbai, India. The facility is designed to foster cutting-edge research, collaboration and the development of innovative solutions, to help drive progress, enhance cost optimisation and create sustainable solutions for the future of the cement and concrete industry. According to the companies, the facility will focus on new product development, productivity enhancement, red... |
Ambuja Cements adds 8Mta capacity15 May 2023, Published under Cement NewsAmbuja Cements is expanding its clinker capacity by 8Mta at its Bhatapara and Maratha units on the highest ESG standards with 42MW of waste heat recovery system, the ability to utilise 50 per cent alternative fuels and raw materials, and the provision to operate on green power. According to the company, the capacity expansion projects will enable the production of 14Mta of Blended Green Cement, following all requisite approvals. Ajay Kapur, Cement Business CEO of Ambuja Cements, sa... |
Ambuja Cement and ACC win influencer award18 April 2023, Published under Cement NewsAmbuja Cements and ACC , part of Adani Cement and the Adani Group, have scooped the Digital Customer Experience Award 2023 for ‘Best Customer & Influence Engagement Initiatives’, organised by Gainskills Media. Brands from across the banking, retail, manufacturing, logistics and supply chain, pharmaceuticals, automobile, and insurance sectors attended the event to showcase their customer experience initiatives. Ambuja Cements and ACC presented their customer and influencer engagement ... |