Ambuja Cements, a key player in the cement and building materials industry and a part of the diversified Adani Portfolio, has inked a definitive agreement to acquire My Home Group’s 1.5 MTPA Cement Grinding Unit in Tuticorin, Tamil Nadu.
The acquisition, valued at Rs. 413.75 Crores and funded through internal accruals, marks a strategic move to bolster Ambuja’s presence in the southern markets of Tamil Nadu and Kerala, enhancing its coastal footprint.
Situated conveniently near the Tuticorin Port, the acquired asset spans 61 acres of land and comes with a long-term fly ash supply agreement, ensuring a seamless raw material sourcing process. Leveraging state-of-the-art marine infrastructure and equipment, Ambuja Cements aims to deliver the highest quality products to its customers.
This strategic acquisition not only provides Ambuja Cements with access to a wider customer base in the southern markets but also reinforces its position as one of the most trusted brands in the industry. Moreover, 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.
Ajay Kapur, CEO of the Cement Business at Adani Group, expressed satisfaction with the acquisition, highlighting its alignment with the group’s commitment to delivering top-notch products and services to customers. He emphasised that Ambuja Cements will inherit the existing dealer network and retain current employees, facilitating a smooth transition and enabling rapid ramp-up of utilisation.
Ambuja Cements, a member of the Adani Group, boasts an extensive presence in the Indian cement market. With 18 integrated cement manufacturing plants and 19 cement grinding units across the country, the company’s total cement capacity now stands at an impressive 78.9 MTPA.
With a commitment to sustainable development projects and environment-friendly practices, Ambuja Cements continues to lead the way in the cement industry, delivering hassle-free home-building solutions and contributing to the country’s growth and development.
This acquisition represents another milestone in Ambuja Cements’ journey towards expanding its market presence and delivering value to stakeholders while upholding its commitment to sustainability and excellence in operations.
