Displaying items by tag: GCW664

India: Adani Group is exploring potential acquisitions of several cement companies including Penna Cement, Saurashtra Cement, the cement business of Jaiprakash Associates and Vadraj Cement owned by ABG Shipyard. The group plans to invest US$3bn in these acquisitions to potentially surpass its rival, UltraTech Cement, within three to four years.

The group is ready to offer an enterprise value of US$85-120/t for these businesses, focusing on those with expansion potential, limestone mines and packing terminals. These acquisitions are part of a strategic push to leverage the ongoing government-driven infrastructure boom, which is expected to increase demand significantly.

Pakistan: The Economic Survey 2023-24, unveiled by Finance Minister Muhammad Aurangzeb, reported that the capacity utilisation of Pakistan's cement industry fell to 54.6% in the first nine months of the 2024 financial year (July 2023 – April 2024), the lowest level recorded since data collection began in 2006. Despite an overall production capacity of 82.3Mt, the industry managed only 37.5Mt/yr in local dispatches and exports during the period.

India: Dalmia Cement (Bharat) will acquire a 19.2% stake in Amplus Kaveri Solar for US$1.94m. This transaction is subject to customary conditions and is expected to complete within eight to nine weeks.