Ambuja Cements to acquire 1.5 MTPA grinding unit at Tamil Nadu's Tuticorin for Rs 413.75 cr
Ahmedabad, April 15 -- Adani Group-owned cement and building material company Ambuja Cements signed a definitive agreement to acquire My Home Groups 1.5 MTPA cement grinding unit in Tamil Nadus Tuticorin.
The acquisition was estimated at a total value of Rs. 413.75 crore through internal accruals, Ambuja Cements said.
It will aid the company in enhancing the coastal footprint across the southern markets of Tamil Nadu and Kerela,
The total cement capacity of Adani Group stands at 78.9 MTPA.
The asset spread across 61 acres of land, conveniently located near the Tuticorin Port with a long-term fly ash agreement will be value accretive from the beginning. Ambuja Cements will leverage the coastal footprint and state-of-the-art marine infr...
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