Business India ×
 Climate Change

Cement
Published on: May 17, 2022, 3:13 p.m.
Adani Group bags Ambuja Cements, ACC
  • Adani: Our move into the cement business is yet another validation of our belief in our nation’s growth story

By Business India Editorial

Gautam Adani-led Adani Group has acquired Holcim’s stake in Ambuja Cements and its subsidiary ACC for $10.5 billion (around Rs81,361 crore).

At present, Aditya Birla group, which owns the brand UltraTech cement, is India's top cement producer with a capacity of 117 metric tonnes per annum. Aditya Birla Group was also in the race to buy Holcim’s stake after the company announced its exit from India.

However, Adani Group bagging the deal is being seen as a major win for the conglomerate. After the expansion, Adani has become India's second-largest cement manufacturer, with a capacity of 70 metric tonnes per annum.

Holcim holds 63.19 per cent in Ambuja Cements and 4.48 percent in ACC Ltd. Ambuja Cements, in turn, owns 50.05 per cent in ACC.

“Our belief in the India story is unshakeable. Combining Holcim’s cement assets in India with our green energy and logistics will make us the world’s greenest cement company,” Gautam Adani, Group Chairman, Adani tweeted after the announcement.

Holcim has said it plans to focus on the group's ‘strategy 2025’ aimed at developing sustainable solutions for the building materials sector.

“Our move into the cement business is yet another validation of our belief in our nation’s growth story,” said Adani.

“Not only is India expected to remain one of the world’s largest demand-driven economies for several decades, but India also continues to be the world’s second-largest cement market yet has less than half of the global average per capita cement consumption. In statistical comparison, China's cement consumption is over 7x India’s,” said Adani.

“When these factors are combined with the several adjacencies of our existing businesses, include the Adani Group’s ports and logistics business, energy business, and real estate business, we believe that we will be able to build a uniquely integrated and differentiated business model and set ourselves up for significant capacity expansion,” he added.


Collaboration

Both agree to mobilise finance, unlock investment and support project development

IRENA, Opec ramp up RE transition

Published on June 22, 2022, 2:01 p.m.

Both agree to mobilise finance, unlock investment and support project development

Mobility

The consumer market is expected to lead the hydrogen vehicles space

A surge in hydrogen vehicles

Published on June 22, 2022, 1:11 p.m.

The consumer market is expected to lead the hydrogen vehicles space

Disasters

Climate change drives millions out of their homes

Climate migration wreaks havoc

Published on June 22, 2022, 12:51 p.m.

Climate change drives millions out of their homes

Government and Policy

Investment proposals galore in the state

Investors back UP’s green energy push

Published on June 22, 2022, 12:15 p.m.

Investment proposals galore in the state

E-MAGAZINE

Company Feature

Classrooms go live, thanks to Airtel

Published on April 5, 2022, 11:25 a.m.

Despite the pandemic, Bharti Foundation has ensured that children are not deprived of learning opportunities

Column

Collaborative excellence

Published on April 4, 2022, 8:53 p.m.

A policy perspective for meeting SDG-9 in low resource setting of developing economies

Column

Innovation and infrastructure

Published on April 4, 2022, 8:10 p.m.

India is well-positioned to become a model of corporate sustainability

Column

‘More for less’

Published on April 1, 2022, 10:12 p.m.

The merger of technology and SDGs – A game-changing win of the era