Cement News tagged under: Ambuja Cements
Cement sector fuels Indian M&A record21 October 2022, Published under Cement NewsAdani Group ’s acquisition of Ambuja Cements and ACC has contributed to a new record in merger and acquisition (M&A) activity in India. According to data by Refinitiv, the value of M&A deals in India has risen by 58 per cent YoY to US$158bn in the first nine months of 2022, coming in higher than the full-year total in both 2018 and 2021. The nine-month period saw 1795 M&A deals being struck, up 21 per cent YoY, marking another record according to Mint. Analysts believe India could soon ... |
Adani in talks to acquire Jaiprakash cement unit10 October 2022, Published under Cement NewsAdani Group is in advanced talks to acquire the cement unit of Jaiprakash Power Ventures Ltd, part of Jaiprakash Associates Ltd, according to Mint. The group is expected to pay around INR50bn (US$607m) for a 2Mta grinding unit in Nigrie, Madhya Pradesh, along with other smaller assets. The deal will not only help lower debt for Jaiprakash Power Ventures Ltd but also solidify Adani’s place in the cement industry, having already acquired Ambuja Cements Ltd and ACC Ltd from Holcim fo... |
Adani Group to invest US$848m in Rajasthan cement10 October 2022, Published under Cement NewsIndia’s Adani Group has revealed plans to spend INR70bn (US$848m) doubling the group’s cement production capacity in the northern state of Rajasthan. This follows an announcement by the company to invest INR650bn (US$7.9bn) in the state over the next 5-7 years. Along with cement production, investments are planned in the renewables business, airport expansion, and networks to deliver piped natural gas (PNG) and compressed natural gas (CNG), reports Reuters. Just a few weeks ago, Gautam ... |
Adani Group announces US$100bn investment plan29 September 2022, Published under Cement NewsThe Adani Group plans to invest US$100bn over the next decade, according to its owner Gautam Adani. The group’s most recent investment was its US$6.5bn acquisition of Ambuja Cements Ltd and ACC Ltd , instantly making it the second-largest cement producer in India. Around 70 per cent of the planned US$100bn investment is destined for the energy transition market, along with defence, metals and petrochemicals, reports Mint. "As a group, we will invest over US$100bn of capital in the nex... |
Ambuja and UltraTech win legal battle against electricity price hikes27 September 2022, Published under Cement NewsAmbuja Cements and UltraTech Cement are among a number of companies who have won a legal battle against electricity distribution entities in Rajasthan over an increase in cross-subsidy surcharges (CSS). According to The Hindu, the electricity distribution companies buy electricity direct from the power producers and pay the CSS, which is then used to supply power to poor and under-privileged customers. However, as stated in the Electricity Act 2003, the CSS should be “progressively re... |
Adani Group to double cement production capacity20 September 2022, Published under Cement NewsThe Adani Group plans to double its cement production capacity over the next five years, according to Gautam Adani, group chairman. Speaking at an event in Mumbai to mark the closure of Adani Group’s acquisition of Holcim ’s stakes in Ambuja Cements and ACC Ltd , Mr Adani said that he expects capacity to go from the current 70Mta to 140Mta over the course of the next five years. “While India is the second largest producer of cement in the world, our per capita consumption is just 25... |
Ambuja Cements welcomes new CEO and CFO20 September 2022, Published under Cement NewsAmbuja Cements Ltd has announced a number of managerial appointments. Effective from 17 September 2022, Ajay Kapur is the company’s new chief executive officer (CEO) and whole-time director, Vinod Bahety is the new chief financial officer (CFO), and Rajiv Gandhi has been appointed company secretary and compliance officer. |
CCI approves Adani acquisition of Ambuja and ACC stakes16 August 2022, Published under Cement NewsThe Competition Commission of India (CCI) has approved the acquisition of Holcim ’s stake in Ambuja Cements Ltd and its subsidiary ACC Ltd by the Adani Group. The deal, which was initially entered into by Adani in May this year, will propel the group to become India’s second-largest cement producer. Holcim currently holds a 63.11 per cent share in Ambuja Cements and a 4.48 per cent share in ACC. Furthermore, Ambuja holds a 50.05 per cent stake in ACC. The acquisition will b... |
Ambuja Cements embraces digitalisation16 June 2022, Published under Cement NewsAmbuja Cements Ltd ( Holcim group ) has renewed its focus on digitalisation. This will remain a key area for Ambuja Cements as it reshapes the way the company operates from running the plants to managing logistics and supply chains and ensuring customer connect. To this end, the company has invested in its ‘Plants of Tomorrow’ initiative, which aims to make manufacturing more efficient through better plant optimisation, higher plant availability and a safer working environment. Under th... |
What to make of Holcim's Indian exit?20 May 2022, Published under Cement NewsHolcim Group agreed to sell its Indian cement businesses this week for US$10.5bn in cash to the Adani Group. ICR reports on the deal and what this means for the Indian cement sector and Holcim going forward. The Adani Group is a coal, power, ports and renewable energy conglomerate that had only a small footprint (Adani Enterprises Ltd) in the cement sector before its interest in Holcim companies, ACC Ltd and Ambuja Cements. The latest acquisition will make Adani the second-largest player ... |