India: UltraTech Cement’s acquisition of Kesoram Cement will raise its share of capacity in the Southern Indian cement market to 21% from 11%, according to BusinessLine Online News. Market researcher Emkay Global said that it expects the acquisition and UltraTech Cement’s current expansion plans to raise the group’s total share of cement capacity in Southern India and Western India by 7 – 8%.

India: UltraTech Cement has concluded an agreement to acquire Kesoram Cement from Kesoram Industries for US$912m. The Times of India newspaper has reported that the price includes an equity value of US$646m and debt of US$267m. As part of the deal, Kesoram Industries shareholders will gain single shares in UltraTech Cement for every 52 shares they hold in Kesoram Industries.

Kesoram Cement operates two cement plants – the 10.8Mt/yr Vasavadatta plant in Karnataka and the 660,000t/yr Kesoram cement plant in Telangana – and a packing plant in Maharashtra.

Kesoram Industries says that the sale of Kesoram Cement will help it to focus on its chemicals, rayon and transparent paper businesses.

India: Sanghi Industries plans to begin marketing its cement with ACC branded packaging. Informist EquityWire News has reported that the shift follows the acquisition of a majority stake in the company by ACC’s fellow Adani Group subsidiary Ambuja Cements in August 2023.

Pakistan: Fauji Cement inaugurated its Shadan Lund cement plant in Dera Ghazi Khan on 30 November 2023. The Pakistan Observer newspaper has reported that the plant has a capacity of 2.37Mt/yr and brings Fauji Cement’s capacity to 10.6Mt/yr.