Adani enters the cement business, acquires stakes in Ambuja Cements and ACC
Giving a push to the cement business in India, Adani has recently acquired 63.15% stake in Ambuja Cements Ltd. and 56.69% stake in ACC Ltd (Of which 50.05% is held through Ambuja Cements). With this deal, Adani has emerged as the second largest cement manufacturer in India.
Ambuja Cements Ltd. and ACC Ltd. are among the most trustworthy building material brands in India. Their combined footprint includes 14 integrated units, 16 grinding units, 79 ready-mix concrete plants and over 78,000 channel partners across India. Both Ambuja Cements Ltd. and ACC Ltd. are publicly listed companies on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE).
Following this step, Adani has created a new pillar of growth in its business. It is a strategic move as Adani has been working on renewable power generation capabilities such as heat recovery systems, which have successfully minimised the effects of carbon emission. Consequently, Adani has embarked upon the road to harnessing green energy in the cement industry by upholding the ethics of sustainability.