Indianconstructionindustry News alert:Back Holcim ups stake in Ambuja to over 50%

New Delhi : Swiss major Holcim has increased its stake in Ambuja Cements by around 4% in the last couple of months to over 50% through open market transactions.Ever since Holcim picked up stake in Ambuja Cements, it has been increasing its holdings in the firm. This is an ongoing process, an Ambuja official told PTI.

"During the last couple of months, Holcim has picked up an additional 4% stake in Ambuja taking its total equity holding to over 50%," he said, adding that the shares have been bought through open market transactions.

Holcim also controls ACC. ACC and Ambuja Cements together have 52 million tonne per annum or around 20% of India's total cement installed capacity. ACC has 27 million tonne per annum and Ambuja Cements 25 million tonne per annum capacity in 2010.Work is on at ACC to increase the capacity to 30 million tonne per annum by the middle of the current year and at Ambuja Cements to 27 million tonne per annum within 2011.

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