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

17 Jun 2024 CW Team

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)

Infrastructure Energy

17 Dec 2025

Vedanta Aluminium Uses 1.57 bn Units of Green Energy in FY25

Vedanta Aluminium, India’s largest aluminium producer, recently reported consumption of 1.57 billion units of renewable energy in FY25, marking a significant milestone in its 2030 decarbonisation roadmap. The company also achieved an 8.96 per cent reduction in greenhouse gas (GHG) emissions intensity compared to FY21, reinforcing its leadership in India’s low-carbon manufacturing transition. During FY25, Vedanta Aluminium expanded its renewable energy portfolio through long-term power purchase agreements, strengthening its strategy to source nearly 1,500 MW of renewable power over the lon..

Oberoi Group to Develop Luxury Resort at Makaibari Tea Estate

EIH Limited, the flagship company of The Oberoi Group, has announced the signing of a management agreement to develop an Oberoi luxury resort at the iconic Makaibari Tea Estate in Darjeeling. The project marks a key milestone in the Group’s long-term strategy of creating distinctive hospitality experiences in rare and environmentally significant locations. Established in 1859, Makaibari is one of the world’s oldest tea estates and is globally recognised for its Himalayan landscape, primary forests and exceptional biodiversity. Spread across 1,236 acres, the estate houses one of the world�..

GHV Infra Secures Rs 1.09 Bn EPC Order in Jamshedpur

GHV Infra Projects Ltd, a fast-growing EPC company in India’s infrastructure and construction sector, has recently secured a Rs 1.09 billion work order in Jamshedpur, Jharkhand. Awarded by a reputed group entity, the contract covers end-to-end civil construction, mechanical, electrical and plumbing (MEP) systems, along with high-quality finishing works for a large building development. The project will be executed over a 30-month period, with defined benchmarks for quality, safety and timely delivery. The order strengthens GHV Infra’s footprint in Jamshedpur, a key industrial hub known fo..