New Delhi: Ambuja Cements, under the diversified Adani Portfolio, has signed an agreement to purchase a 1.5 MTPA cement grinding unit from My Home Group in Tuticorin, Tamil Nadu, for a total value of ₹413.75 crore funded through internal accruals.
The company, with this acquisition, is set to expand its total cement capacity to 78.9 MTPA. The unit, spread over 61 acres near the strategic Tuticorin Port, comes with a long-term fly ash agreement, enhancing the company’s footprint in the southern states of Tamil Nadu and Kerala.
“This acquisition provides access to the southern market customers with an opportunity to experience and instil their trust in one of the most iconic and trusted brands – Ambuja Cement,” the company said in a statement.
Furthermore, the limited availability of limestone in Tamil Nadu presents a unique competitive advantage with coastal movement of clinker from the Sanghipuram Plant ensuring cost-efficient operations, it added.
“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,” said Ajay Kapur, CEO – Cement Business, Adani Group. He emphasized that the acquisition includes inheriting an existing dealer network and retaining current employees, promising a smooth transition and immediate operational scaling.