Construction Industry News
After the USD 6.5 billion acquisition of Ambuja Cements and ACC, billionaire Gautam Adani announced plans to double its cement production capacity and become the country's most profitable manufacturer.
He predicted a multiple increase in cement demand in India due to the country's record-breaking economic development and government pressure to build infrastructure, which will result in massive margin expansion.
In a speech marking the closing of the transaction on September 17, the founder and chairman of the Adani Group stated that the port-to-energy company has become the country's second largest cement producer in one fell swoop.
Adani Group last week completed a buyout of Swiss Major Holcim's stake in the two companies.
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