Adani Cement’s subsidiary, Ambuja Cements, has signed a deal to acquire a 46.8% stake in Orient Cement Limited for Rs 8,100 crore. This move will boost Ambuja’s operational capacity to over 100 million tonnes per annum by FY25. The acquisition will be funded through internal accruals. Orient Cement currently has an operational cement capacity of 8.5 MTPA and clinker capacity of 5.6 MTPA. Adani Cement aims to increase its market share by 2% and improve its presence in key regions with this acquisition. The strategic locations and high-quality reserves of OCL present an opportunity to increase cement capacity in the near future.
source
Discover more from GLOBALMALAYALAM.NEWS
Subscribe to get the latest posts sent to your email.
