Ambuja Cement Acquired My Home Group’s 1.5 MTPA Cement Grinding Unit
By: Geetanjali
Adani Group owned Ambuja Cement has entered into a definitive agreement with My Home Industries Private Limited to acquire its 1.5 MTPA Cement Grinding Unit located in Tuticorin, Tamil Nadu. Company has put a seal to the agreement in its exchange filing presented to NSE (National Stock Exchange Limited of India) on April 15, 2024.
With this, the total cement producing capacity of Ambuja Cement has risen to 78.9 MTPA (Million Tonne Per Annum). Overpassing Acc cement as India’s second largest cement player after Ultratech Cement which has annual cement production capacity of 150 MTPA.
This step will help expand Ambuja Cements foothold in the areas of Tamil Nadu, Kerala, and the whole southern part of India.
As per the sources, the acquired cement mixing unit is spread across 61 acres of land, near the Tuticorin port in Tamil Nadu, along with easy availability of raw material like limestone and fly ash, making it a competitive deal in terms of both cheap transportation and raw material.
“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. 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” , said Ajay Kapur, CEO – Cement Business, Adani Group in his official statement.
Last year in December, 2023, Ambuja Cement acquired Sanghi Industries 2,700 hectare integrated cement manufacturing unit in an 5,185 cr deal, in which Ambuja recently sold 2% stakes.
