Adani Group Fortifies Cement Presence with Orient Cement Acquisition

The Adani Group, led by Gautam Adani, is acquiring Orient Cement from the CK Birla group for Rs 8,100 crore. This strategic move will boost Adani Cement's capacity to 100 million tonnes per annum by FY25, enhancing its market presence and reducing logistics costs in the cement industry.


Devdiscourse News Desk | New Delhi | Updated: 22-10-2024 13:43 IST | Created: 22-10-2024 12:38 IST
Adani Group Fortifies Cement Presence with Orient Cement Acquisition
Representative image (Photo/adanienterprises.com) Image Credit: ANI
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The Adani Group, helmed by billionaire Gautam Adani, announced its acquisition of CK Birla group's Orient Cement on Tuesday. The deal, valued at Rs 8,100 crore, aligns with Adani's expansion strategy.

This acquisition will raise Adani Cement's total capacity to 100 million tonnes per annum by FY25, bolstering its market share by 2% nationwide. The agreement, signed with Orient Cement Ltd (OCL), involves Ambuja acquiring 46.8% of OCL's shares from existing promoters and public shareholders.

The transaction, funded through internal accruals, will introduce an additional 16.6 MTPA capacity to Adani's operations. This follows Adani's recent acquisitions of Penna Cement and Sanghi Industries. Adani Group's strategic focus on cement and infrastructure positions it well to drive growth for Orient Cement's stakeholders.

(With inputs from agencies.)

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