Business EconomyPosted at: Apr 15 2024 5:29PM


Ambuja Cements signs definitive agreement to acquire 1.5 MTPA Grinding Unit at Tuticorin

Kolkata, Apr 15 (UNI) Ambuja Cements, the cement and building material company of the diversified Adani Portfolio, has signed definitive agreement to acquire My Home Group's 1.5 MTPA Cement Grinding Unit in Tuticorin, Tamil Nadu.
The acquisition estimated at a total value of Rs. 413.75 Crores through internal accruals will aid in enhancing the coastal footprint across southern markets of Tamil Nadu and Kerela. The total cement capacity of Adani Group stands at 78.9 MTPA, according to a media statement on Monday.
The asset spread across 61 acres of land, conveniently located near the Tuticorin Port with a long-term fly ash agreement will be value accretive from the beginning. Ambuja Cements will leverage the coastal footprint and state-of-the-art marine infrastructure and equipment, ensuring that the best quality products are delivered.
This acquisition provides access to the southern market customers with an opportunity to experience and instil their trust in one of the most iconic and trusted brands – Ambuja Cement. Furthermore, the limited availability of limestone in Tamil Nadu presents a unique competitive advantage with coastal movement of clinker from the Sanghipuram Plant ensuring cost-efficient operations.
Ajay Kapur, CEO – Cement Business, Adani Group, said, "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.”
UNI SJC KK
Please log in to get detailed story.
Tags: #Ambuja Cements signs definitive agreement to acquire 1.5 MTPA Grinding Unit at Tuticorin
More News

Retail sales of passenger vehicle records 20 percent growth in November: FADA

08 Dec 2025 | 1:46 PM

New Delhi, Dec 8 (UNI) The retail sales of passenger vehicles (PVs) in the month of November recorded a 20 per cent growth on a year-on-year basis, said the Federation of Automobile Dealers Associations (FADA).

see more..

Embedded finance, EMI cards fuel India's new age of smart borrowing

08 Dec 2025 | 1:23 AM

New Delhi, Dec 7 (UNI) India's lower-middle class is moving from borrowing for survival toward borrowing for advancement, signalling a decisive cultural shift in credit behaviour, according to the seventh edition of Home Credit India's annual How India Borrows (HIB) study.

see more..

Market valuation of 5 of top 10 firms surges by over Rs 72,000 cr

07 Dec 2025 | 11:53 PM

New Delhi, Dec 7 (UNI) The market valuation of five of the top-10 most valued firms surged by Rs 72,284.74 crore last week, as per the data with the depositories. Tata Consultancy Services (TCS) and Infosys emerged as the biggest winners.

see more..

Singareni subsidiary companies to run profitably: Coal Ministry

07 Dec 2025 | 8:03 PM

Hyderabad, Dec 7 (UNI) As part of Singareni Company’s business expansion activities, and in view of entering the Green Energy and Critical Minerals sectors, the company has reserved names for the establishment of two new subsidiary companies.

see more..

Indian EPC sector strong in hiring activity: Study

06 Dec 2025 | 11:14 PM

Chennai, Dec 6 (UNI) India’s Engineering, Procurement, and Construction (EPC) sector is witnessing one of its strongest periods of hiring activity in recent years, with hiring demand surging 51 per cent since 2020, reveals CIEL HR’s EPC Sector Talent Study, 2025. .

see more..