Are we set for a tidal wave in construction?
Holcim’s divestment of its pre-eminent position as the second largest cement manufacturer in India with brand Ambuja and brand ACC was sold in a matter of days despite the prized tag of over $ 10 billion. Not only did the deal close within days, the open offers it triggered were also rolled out in quick succession, making the total investment for the winning bidder, the Adani Group, $ 10.5 billion, plus another $ 3.5 billion towards the acquisition of shares through the open offer. The private sector, which has remained shy during the past eight years, is seen to have made a beeline for this acquisition with JSW Group and Aditya Birla Group stitching solutions for finances and beating policy hurdles respectively.
This is one of the biggest deals in the history of building materials in India. The Adani Group has been particularly proactive, snapping up airports, roads, ports, logistics, green energy and now cement too. In December, Adani Enterprises won contracts from the Uttar Pradesh government to build three stretches of the 594-km Ganga Expressway. The fourth section was awarded to IRB Infrastructure, where Adani’s share of work is 80 per cent of the total project. Now, Adani is in talks to raise Rs 120 billion from SBI towards this massive project. Its capex plan for the next two years includes $ 4.2 billion for airports and $ 2.2 billion for roads alone. The group’s roads portfolio comprises 14 projects with over 5,000 lane km with asset value exceeding Rs 41,000 crore spread across India.
Meanwhile, it is heartening to see the Finance Minister proactively moving in with…Ganga Expressway
Holcim
Click here to read more
IHC and Adani to Invest US$11.5 bn in Odisha Aluminium Project
Abu Dhabi's International Holding Company (IHC) will invest US$11.5 bn in an integrated aluminium project in the eastern Indian state of Odisha in a joint venture with the Adani Group, a state official said. The official said the announcement represented the country's largest foreign investment in mining and metallurgy. Officials said the venture would span both mining and metallurgical activities across several facilities in the state. The project has been described as integrated, encompassing upstream bauxite extraction and downstream smelting and metallurgy, and is intended to develop a com..
Air India and SIAEC to Explore MRO Joint Venture in India
Air India and SIA Engineering Company (SIAEC) have signed a memorandum of understanding (MoU) to explore the formation of a maintenance, repair and overhaul joint venture in India. The MoU, signed on Friday, will examine collaboration to develop India as a global aviation MRO hub and to serve growing needs across the Indian and regional markets. SIA Engineering Company, part of the Singapore Airlines Group which holds a 25.1 per cent stake in Air India, will bring technical expertise alongside Air India's established airline operations network. The partnership builds on existing cooperation be..
Assam and Centre Review Aviation Projects Push Silchar Airport Approval
Assam and the Centre on Thursday, July two reviewed a series of aviation infrastructure projects aimed at strengthening air connectivity across the state, with the proposed greenfield airport at Silchar emerging as a key priority. The review formed part of broader efforts to position Assam as a major aviation and logistics hub for the north east. Officials outlined timelines and preparatory work that they said would guide the next stages of project approvals. The Chief Minister met the Union Civil Aviation Minister at Rajiv Gandhi Bhavan in New Delhi and described the meeting as very productiv..
Latest Updates
