Image Source : GAUTAM ADANI (TWITTER) Ambuja Cement acquires majority stake of Sanghi Industries
Ambuja Cement on Thursday morning introduced the acquisition of a majority stake in Sanghi Industries, one of many main cement producers from western India, at an enterprise worth of Rs 5,000 crore. According to the press launch, Ambuja Cement (which is a part of Adani Group) will purchase 56.74 per cent stake in Sanghi Industries Ltd (SIL) from its current promoter group – Ravi Sanghi & household. According to an announcement from Ambuja Cement, the acquisition can be absolutely funded via inside accruals.
The deal would assist Adani Cement, the second largest producer after UltraTech, to develop its capability to 73.6 MTPA (million tonne every year) within the section, during which it had entered final September, after the acquisition of majority stakes in Ambuja Cement and its subsidiary ACC Ltd.
“The acquisition of SIL will assist ACL (Ambuja Cements Ltd) strengthen its market management and improve its cement capability to 73.
6 MTPA from the present 67.5 MTPA.With the continued capex of 14 MTPA and with commissioning of 5.5 MTPA capability at Dahej and Ametha by Q2 of FY24, Adani Group’s capability can be 101 MTPA by 2025,” it mentioned.
Commenting on the event, Adani Group Chairman Gautam Adani mentioned, “This landmark acquisition is a big step ahead in Ambuja Cements’ accelerating progress journey.”
“By joining hands with SIL, Ambuja is poised to expand its market presence, strengthen its product portfolio, and reinforce its position as a leader in the construction materials sector. With this acquisition, Adani Group is well on course to achieve its target of 140 MTPA of cement manufacturing capacity by 2028 ahead of time,” he mentioned.
SIL’s built-in manufacturing unit at Sanghipuram in Gujarat’s Kutch district is India’s largest single-location cement and clinker unit by capability. With 2,700 hectares of land, the built-in unit has two kilns with a clinker manufacturing capability of 6.6 MTPA and a cement grinding unit with a capability of 6.1 MTPA. It has a captive energy plant of 130 MW and a Waste Heat Recovery System of 13 MW. The unit can be linked to a captive jetty at Sanghipuram. The acquisition of SIL will assist ACL to strengthen its market management and improve its cement capability to 73.6 MTPA from the present 67.5 MTPA.
With the continued capex of 14 MTPA and with commissioning of 5.5 MTPA capability at Dahej and Ametha by Q2 of FY24, the Adani Group’s capability can be 101 MTPA by 2025. Given the Adani Group’s power in constructing and working marine infrastructure, the port at Sanghipuram can be expanded to deal with vessel sizes of 8,000 DWT (deadweight tonnage). Bulk terminals and grinding items can be created alongside the western coast to allow the motion of clinker and cement via the ocean route on the lowest attainable value.
SIL additionally has a bulk cement terminal every at Navlakhi Port in Gujarat and Dharamtar Port in Maharashtra. Most of the cement is transported via the ocean route, which is environment-friendly and cost-competitive. SIL has a community of 850 sellers, with a market presence in Gujarat, Madhya Pradesh, Rajasthan, Maharashtra, and Kerala.
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Source: www.indiatvnews.com
