Adani Enterprises enters cement market, forms Adani Cement
Cement

Adani Enterprises enters cement market, forms Adani Cement

Adani Enterprises informed stock exchanges on Saturday that it has incorporated a wholly-owned subsidiary named Adani Cement, making its way into the cement business in India.

Adani Enterprises informed that Adani Capital has authorised share capital of Rs 10 lakh and paid-up share capital of Rs 5 lakh. Its new subsidiary has 50,000 equity shares of Rs 10 per unit.

Adani Cement has registered with the Registrar of Gujarat on 11 June 2021, and it is yet to begin operations. The newly established company will work as a manufacturer, producer, and processor of all types of cement, Adani Enterprises said.

Adani Enterprises added $43 billion to its net worth in 2021. Its port-to-power conglomerate has an interest in sectors from FMCG to airport management and power transmission.

The government might have encouraged Adani's Cement business to revive capital expenditure, which is directly proportional to the performance of the sector.

The company might cause some disruption to the competitive cement industries in India, which are preparing for revival after the struggle from the Covid pandemic and earlier troubles.

Image Source


Also read: Flipkart ties up with Adani to set up logistics hub and data centre

Also read: Adani Enterprises bags Rs 1,838 cr highway project in Kerala

Adani Enterprises informed stock exchanges on Saturday that it has incorporated a wholly-owned subsidiary named Adani Cement, making its way into the cement business in India. Adani Enterprises informed that Adani Capital has authorised share capital of Rs 10 lakh and paid-up share capital of Rs 5 lakh. Its new subsidiary has 50,000 equity shares of Rs 10 per unit. Adani Cement has registered with the Registrar of Gujarat on 11 June 2021, and it is yet to begin operations. The newly established company will work as a manufacturer, producer, and processor of all types of cement, Adani Enterprises said. Adani Enterprises added $43 billion to its net worth in 2021. Its port-to-power conglomerate has an interest in sectors from FMCG to airport management and power transmission. The government might have encouraged Adani's Cement business to revive capital expenditure, which is directly proportional to the performance of the sector. The company might cause some disruption to the competitive cement industries in India, which are preparing for revival after the struggle from the Covid pandemic and earlier troubles. Image Source Also read: Flipkart ties up with Adani to set up logistics hub and data centre Also read: Adani Enterprises bags Rs 1,838 cr highway project in Kerala

Related Stories

Gold Stories

Next Story
Infrastructure Urban

Sabarmati Riverfront Two Plots Up for Auction at Rs2.24 bn Base Price

Two commercial plots on the western bank of the Sabarmati Riverfront will be auctioned with a base price of Rs 112 crore each, equivalent to Rs 1.12 bn apiece and Rs 2.24 billion in total. The parcels are located adjacent to the Metro Rail Bridge in Ahmedabad and form the first commercial offering after a prolonged pause. The Riverfront Development Corporation has framed the sale as part of a phased commercial release to revive development along the riverfront. The combined base valuation has been set by the corporation to reflect market rates along the riverfront. The corporation has fixed a ..

Next Story
Infrastructure Urban

Andhra Pradesh to Connect Over One Million Streetlights

Andhra Pradesh will undertake a statewide smart streetlighting programme across all 123 Urban Local Bodies (ULBs), bringing around 1.05 million (mn) streetlights under an AI enabled monitoring and management system. The programme will be implemented by Energy Efficiency Services Limited (EESL) with the Commissioner and Director of Municipal Administration under the state Municipal Administration and Urban Development Department. The project aims to convert conventional streetlighting into a digitally managed municipal service monitored and maintained remotely. The initial phase will cover abou..

Next Story
Infrastructure Urban

AMC To Procure Four Machines For Guard Rail Cleaning

Ahmedabad Municipal Corporation will introduce four specialised machines for cleaning guard railings along major roads and the central verges of BRTS and Metro corridors. The civic body plans to replace manual labour with mechanised cleaning to improve maintenance of road infrastructure and greenery. The purchase is estimated at Rs 82.8 million (mn), excluding GST. The proposal sets the base price of each machine at about Rs 20.7 million (mn) so four units total Rs 82.8 million (mn) before GST. 18 per cent GST will be applicable separately. During the warranty period each machine will operate ..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement