Adani Group looks to acquire ITD Cementation

28 Oct 2024 CW Team

Adani Group is planning to acquire nearly 73% of ITD Cementation India for approximately $685 million, aiming to bolster its in-house engineering, procurement, and construction (EPC) and civil engineering capabilities. Renew Exim DMCC, an offshore entity fully owned by the Adani promoter family, has entered into an agreement with ITD Cementation’s promoter, Italian-Thai Development Public Co, to acquire a 46.64% stake—equivalent to 80.1 million shares—at Rs 400 per share, amounting to Rs 32.04 billion, according to a stock exchange filing by ITD Cementation.

The acquisition will be followed by an open offer to buy an additional 26% or 44.7 million shares from minority shareholders at Rs 571.68 per share. If fully subscribed, this will result in a total outlay of around Rs 57.59 billion for Adani Group, securing a 73% stake in ITD Cementation, a leader in maritime structures and engineering projects. This acquisition would mark Adani Group’s twelfth acquisition this year.

ITD Cementation’s portfolio includes work on Jawaharlal Nehru Port Trust and ports in Tuticorin, Haldia, Mundra, and Vizhinjam, as well as Delhi and Kolkata metro projects. Seen as strategically aligned with Adani’s expansion into ports, infrastructure, power, and real estate, ITD Cementation also shares business ties with Adani in hydropower, marine, and the 594-km Ganga Expressway toll project. Maritime structures like wharfs, piers, container terminals, berths, and oil jetties form the largest segment of ITD Cementation’s order book, accounting for 34.5%.

Infrastructure Transport

01 Jun 2026

MMRDA advances 250 m on Orange Gate–Marine Drive tunnel

The Mumbai Metropolitan Region Development Authority (MMRDA) has completed 250 m of underground tunnelling for the Orange Gate–Marine Drive Urban Road Tunnel using India’s largest slurry shield tunnel boring machine (TBM) deployed for an urban road project.The project involves twin tunnels extending over 7 km beneath critical transport corridors, including Central Railway, Western Railway and Metro Line 3. The work requires high-precision engineering to navigate densely developed urban infrastructure.Once completed, the tunnel is expected to reduce travel time between Orange Gate and Marin..

Hindustan Zinc Pays Rs 188.46 Billion in FY26

Hindustan Zinc contributed Rs 188.46 billion to the public exchequer in FY 2025-26, according to its 9th Tax Transparency Report. The contribution, equivalent to 46 per cent of the company’s revenue, included direct and indirect taxes, government royalties, dividends to the Government of India, withholding taxes and other statutory levies.The company’s five-year cumulative contribution to the exchequer stood at Rs 915.72 billion. In FY26, Hindustan Zinc reported revenue of Rs 408.44 billion, EBITDA of Rs 221.62 billion and profit after tax of Rs 138.32 billion. It also achieved its highest..

World of Concrete India 2026 Opens in Mumbai

Informa Markets in India will host the 12th edition of World of Concrete India 2026 from 3–5 June 2026 at the Bombay Exhibition Centre, Mumbai. The specialised B2B exhibition will bring together manufacturers, suppliers, contractors, developers, architects, consultants, infrastructure companies, project leaders and government stakeholders.The event is expected to feature over 350 brands and more than 18,000 trade professionals. It will cover concrete and cement, dry mortar, precast technologies, formwork, construction chemicals, industrial and commercial flooring, scaffolding, safety solutio..