Ambuja Cements

Ambuja Cements to Buy My Home Cement Group’s Grinding Unit: For Rs 414 Crore

3 weeks ago

Ambuja Cements, a cement and building material company in the Adani Group has signed the agreement to acquire the grinding unit of My Home’s Group cement in Tamil Nadu for about Rs 414 Crores.
This deal with My Homes will be going to enhance the footprints of Ambuja Cements across the southern markets of Tamil Nadu and Kerela.

Ambuja Cements

The facility covers 61 acres and is conveniently close to the Tuticorin Port. Therefore, The company stated that it would add value from the start, thanks to a long-term fly ash agreement.

Additionally, Adani’s Group acquired these two companies earlier Sanghi Industries and Asian Conceret and Cements, now My Homes is the third cement company bought by Adani’s Group.

My Home Group, based in Telangana, diversifies its business interests, and it spreads the said cement unit across 61 acres near the Tuticorin Port.

“We are glad to announce this acquisition, strengthening our foothold in the region and aligning perfectly with our commitment to delivering high-quality products and services to our customers. In addition to the infrastructure and geographical advantages, Ambuja Cements will also inherit the existing dealer network and retain current employees, facilitating a smooth transition and enabling the rapid ramp-up of utilization,” Ajay Kapur, CEO–of Cement Business, Adani Group, said.

Moreover, The Tuticorin Plant spread across 61 acres of land, has a long-term fly ash supply agreement for raw material.

Tarushi Wasson

Leave a Reply

Your email address will not be published. Required fields are marked *