India’s Ambuja Cements is planning to bolster its cement portfolio by acquiring a majority stake, in Sanghi Industries. This strategic move, spearheaded by billionaire Gautam Adanis’s company signifies their commitment to expanding in the sector. Adani’s cement holdings, which include Ambuja and ACC Ltd currently have a production capacity of, over 65 million tonnes throughout India.
India’s Ambuja Cements is set to bolster its cement operations by acquiring a majority stake in Sanghi Industries, according to sources familiar with the matter. The deal, anticipated to be unveiled as early as Wednesday, signifies a strategic move that will enhance the cement portfolio of Gautam Adani‘s business empire.
Adani, positioned as India’s second-largest cement producer after UltraTech Cement, possesses both Ambuja and its subsidiary ACC Ltd. These entities boast an impressive combined production capacity of over 65 million tonnes, facilitated by a network of more than a dozen manufacturing plants spanning the Indian landscape.
Hailing from the Gujarat state in western India, Sanghi stands out as a prominent player in the cement manufacturing arena. With an annual production capacity of 6.1 million metric tonnes, as stated on its official website, Sanghi has established itself as a significant contributor to the industry.
Reflecting the Adani Group’s strategic direction, a spokesperson had previously conveyed in June to Reuters that cement remains a pivotal focal point, and they are actively exploring numerous greenfield opportunities.
