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New Delhi:
Ambuja Cement, a part of Adani Group, today announced its purchase of Sanghi Industries for ₹ 5,000 crore.
Shortly after the acquisition, Gautam Adani said Ambuja Cement’s promises to double its cement capacity by 2028.
Ambuja Cement said the acquisition will be fully funded via internal accruals. This acquisition will boost Ambuja Cement’s production capacity to 73.6 million tonnes per annum.
The statement said its goal to reach 140 million tonnes per annum capacity by 2028 will be achieved ahead of time.
“Our aim is to make SIL the lowest cost producer of clinker in the country. Ambuja will increase the cement capacity at Sanghipuram to 15 MTPA in the next two years,” the company said.
