+
Adani's Ambuja Cements to acquire 100% of Penna Cement
Cement

Adani's Ambuja Cements to acquire 100% of Penna Cement

Ambuja Cements, part of the Adani Group, will acquire 100% of Penna Cement in a deal worth Rs 104.22 billion, announced. The acquisition will be fully funded through internal accruals. This transaction includes a cement capacity of 14 million tonnes per annum (MTPA) and an under-construction 4.0 MTPA capacity at Jodhpur IU and Krishnapatnam GU, which Penna Cement will complete.

Gautam Adani's $3 billion fund, aimed at dominating the cement market, will see a significant expenditure with this acquisition. This move will enhance Adani Group?s presence in South India and Sri Lanka, directly competing with UltraTech Cement. The company aims to boost its production capacity from the current 89 MTPA to 140 MTPA by 2028, including the 4 MTPA under construction.

Reports also suggest that Adani Group plans further acquisitions, including Saurashtra Cement, Jaiprakash Associates' cement business, and Vadraj Cement, potentially adding another 20.5 MTPA to Ambuja's capacity. These strategic moves are in line with India's growing infrastructure development under the Modi government, with Ambuja Cements aiming to increase its South India market share from 8% to 15% and its pan-India market share by 2%.

Additionally, the acquisition will strengthen Adani's logistics with five bulk cement terminals in Kolkata, Gopalpur, Karaikal, Kochi, and Colombo, facilitating better distribution across peninsular India. Following the announcement, Ambuja Cements' stock rose 4% to a new all-time high.

(Source: ET)

Ambuja Cements, part of the Adani Group, will acquire 100% of Penna Cement in a deal worth Rs 104.22 billion, announced. The acquisition will be fully funded through internal accruals. This transaction includes a cement capacity of 14 million tonnes per annum (MTPA) and an under-construction 4.0 MTPA capacity at Jodhpur IU and Krishnapatnam GU, which Penna Cement will complete. Gautam Adani's $3 billion fund, aimed at dominating the cement market, will see a significant expenditure with this acquisition. This move will enhance Adani Group?s presence in South India and Sri Lanka, directly competing with UltraTech Cement. The company aims to boost its production capacity from the current 89 MTPA to 140 MTPA by 2028, including the 4 MTPA under construction. Reports also suggest that Adani Group plans further acquisitions, including Saurashtra Cement, Jaiprakash Associates' cement business, and Vadraj Cement, potentially adding another 20.5 MTPA to Ambuja's capacity. These strategic moves are in line with India's growing infrastructure development under the Modi government, with Ambuja Cements aiming to increase its South India market share from 8% to 15% and its pan-India market share by 2%. Additionally, the acquisition will strengthen Adani's logistics with five bulk cement terminals in Kolkata, Gopalpur, Karaikal, Kochi, and Colombo, facilitating better distribution across peninsular India. Following the announcement, Ambuja Cements' stock rose 4% to a new all-time high. (Source: ET)

Related Stories

Gold Stories

Next Story
Infrastructure Urban

NABARD Holds Seminar on Vigilance, Integrity and Good Governance

National Bank for Agriculture and Rural Development (NABARD) organised a seminar on “Vigilance: Strengthening Integrity and Good Governance” on 25 August 2026 at its Head Office in Mumbai as part of the ongoing Vigilance Awareness Campaign 2026 being observed from 17 August to 16 November 2026, with the theme “Probity for Prosperity."" The seminar was graced by Suresh N Patel, Former Central Vigilance Commissioner, Government of India, as the chief guest and keynote speaker.  The programme was attended by G S Rawat, Deputy Managing Director, Dr Ajay K Sood, Deputy Managing Dire..

Next Story
Equipment

XCMG Unveils World's First 14,000-Ton Ring Crane for Heavy Lifting

XCMG has announced that the first main unit of the world's first 14,000-ton ring crane has rolled off the production line, marking a historic breakthrough in ultra-heavy lifting technology. Jointly developed by XCMG and Sinopec Heavy Lifting & Transportation Co., Ltd., the crane will be the largest-capacity ring crane ever built, setting a new benchmark for major construction projects worldwide.The crane features a modular configuration comprising two main units that work in tandem. The first main unit has completed final assembly and can independently perform lifting operations. Once both..

Next Story
Infrastructure Urban

Thriveni Logistics orders 200 tip trailers from Jagdamba trailers

Jagdamba Trailers (JTPL), one of India’s growing trailer manufacturers, has secured a significant order for 200 Tip Trailers from Thriveni Transport and Logistics Pvt. Ltd., a leading mining and logistics company serving operations across India and overseas.The order, placed for iron ore transportation, is a major milestone for JTPL, particularly as the company secured the business after competing with more than 10 established trailer manufacturers. It also strengthens an already successful relationship between the two companies. Approximately one and a half years ago, Thriveni Transport and..

Advertisement

Subscribe to Our Newsletter

Get daily newsletters around different themes from Construction world.

STAY CONNECTED

Advertisement

SPECIAL OFFER
QR Code