Displaying items by tag: Adani Group

India: Adani Group has reportedly entered an advanced stage of discussions with Holcim over its possible acquisition of the latter's Indian cement operations. The Times of India newspaper has reported that Holcim subsidiaries Ambuja Cements and ACC together have a cement production capacity of 64Mt/yr. The value of their assets has a market cap of US$15.7bn.

India: Switzerland-based Holcim is reportedly in the early stages of selling its subsidiaries Ambuja Cement and ACC. The company has held discussions with JSW, Adani Group and others, according to sources who have spoken to the Economic Times newspaper. Multinational building material producers have also been approached. Holcim has not commented on what it described as ‘rumours.’ Ambuja Cement and ACC have a combined cement production capacity of 66Mt/yr

India: Orient Cement has signed a memorandum of understanding (MoU) with Adani Power Maharashtra for the establishment of a grinding plant on land belonging to the latter. The power company will secure a licence to sublet its land to Orient Cement and for the producer to use railway sidings at the site. Orient Cement plans to begin work on the project before April 2022.

India: Adani Enterprises Limited subsidiary Adani Cement plans to establish a 5.0Mt/yr integrated cement plant at Shahbaj in Maharashtra’s Raigad district. BusinessLine News has reported that the company will invest between US$122m and US$135m in the project. It has acquired 10ha of land on which to build the plant.

Pakistan: Adani Enterprises has incorporated Adani Cement as a wholly-owned subsidiary. The Pioneer newspaper has reported that the new company will produce various classes of cements. However, it is yet to start business operations.

India: Adani Group plans to build an integrated cement plant at Lakhpat in Gujarat as part of a US$7.7bn investment in multiple projects in the state. Other projects include the world’s largest solar park and a lithium battery plant, according to the Press Trust of India. Adani Group is an integrated infrastructure conglomerate with interests in resources, logistics, energy, agriculture, real estate, public transport infrastructure, consumer finance and defence sectors.