Ambuja Cement acquires 1.5 MTPA grinding unit in Tuticorin for Rs 413.75 crore

Tamil Nadu :

Ambuja Cements has signed a definitive agreement to acquire My Home Group's 1.5 MTPA cement grinding unit in Tuticorin, Tamil Nadu. The acquisition is expected to be worth a total of Rs 413.75 crore through inland accruals and will help in strengthening the coastal footprint in the southern markets of Tamil Nadu and Kerela. The Adani Group's total cement production capacity is 78.9 million tonnes per annum.

The 61-acre land asset, located near the Tuticorin port with a long-term fly ash agreement, will increase its value from the outset. Ambuja Cements will leverage its coastal footprint and state-of-the-art offshore infrastructure and equipment, ensuring delivery of the best quality products.

p>This acquisition provides access to customers in the southern market with the opportunity to experience and inspire their confidence in one of the most recognized and trusted brands - Ambuja Cement. In addition, the limited availability of limestone in Tamil Nadu represents a unique competitive advantage as the coastal movement of clinker from the Sangipuram plant ensures profitable operations.

Ajay Kapoor, Group CEO, Adani Cement, said: “We are pleased To announce this acquisition, which strengthens our presence in the region and is fully consistent with our commitment to provide quality products and services to our customers In addition to the infrastructure and geographical advantages, Ambuja Cement will also inherit the existing dealer network and retain the existing employees, facilitating a smooth transition and enabling a rapid increase in business. the use.