Hyderabad/Ahmedabad, Dec 6 – Ambuja Cements Limited (ACL),a part of the Adani Group, on Tuesday announced the successful completion of the acquisition of Sanghi Industries Limited (SIL), at an Enterprise value of Rs 5,185 crore .
This strategic acquisition enhances Ambuja Cement’s market presence underscoring Adani group’s steadfast commitment to India’s housing and infrastructure development, the company said in a release.
With the acquisition funded entirely through internal accruals, ACL holds a controlling stake of 54.65% in SIL.
From this acquisition, the company aims to enhance efficiency, reduce costs, and maintain a sustainable approach to cement production, it claimed.
SIL’s Sanghipuram 2,700-hectare integrated manufacturing unit stands out as India’s largest single-location cement and clinker production facility.
This facility comprises of two kilns with an impressive clinker production capacity of 6.6 MTPA, a cement grinding unit of 6.1 MTPA, a dedicated 13 MW captive power plant and an efficient 13 MW waste Heat Recovery System. The unit is seamlessly connected to a captive jetty in Sanghipuram.
ACL will invest in expanding the existing captive port at Sanghipuram to accommodate larger vessels, contributing significantly to the nation’s infrastructure development by meeting the growing demand for cement across Gujarat, Maharashtra, Karnataka & Kerala at a very competitive cost. This is expected to be commissioned over the next 30 months.
Mr. Ajay Kapur, CEO, Cement Business said, “This acquisition represents a significant step forward in our journey solidifying Adani Group’s leadership position in India’s cement industry. It strengthens our commitment to delivering high-quality products and services to our customers while contributing to India’s infrastructure development.
