Ahmedabad: In a bid to reinforce coastal footprint throughout southern markets, the Adani Group’s constructing materials firm Ambuja Cements on Monday introduced to amass My Residence Group’s 1.5 MTPA (million tonnes every year) cement grinding unit in Tuticorin, Tamil Nadu, for Rs 413.75 crore.
The acquisition, funded via inner accruals, takes Adani Group’s whole cement capability to 78.9 MTPA, the corporate mentioned in an announcement.
The plant is unfold throughout 61 acres of land with a long-term fly ash provide settlement for uncooked materials sourcing.
“We’re glad to announce this acquisition, strengthening our foothold within the area and aligning completely with our dedication to delivering high-quality services to our prospects,” mentioned Ajay Kapur, CEO–Cement Enterprise, Adani Group.
Along with the infrastructure and geographical benefits, Ambuja Cements can even inherit the present seller community and retain present workers, facilitating a clean transition and enabling the fast ramp-up of utilisation, Kapur added.
Ambuja Cements mentioned it’s going to leverage the coastal footprint and state-of-the-art marine infrastructure and gear, guaranteeing that the highest quality merchandise are delivered.
“This acquisition offers entry to the southern market prospects with a possibility to expertise and instil their belief in one of the crucial iconic and trusted manufacturers – Ambuja Cement,” the corporate famous.
Moreover, the restricted availability of limestone in Tamil Nadu presents a novel aggressive benefit with the coastal motion of clinker from the Sanghipuram Plant guaranteeing cost-efficient operations.
Ambuja, with its subsidiaries ACC Ltd and Sanghi Industries Ltd, has taken the Adani Group’s cement capability to 78.9 MTPA with 18 built-in cement manufacturing vegetation and 19 cement grinding models throughout the nation.
Ambuja has lately been recognised as ‘India’s Most Trusted Cement Model’ by TRA Analysis in its ‘Model Belief Report, 2024’.
