Ambuja acquires My Home�??s cement unit for `413.75 cr

Ambuja acquires My Home�??s cement unit for `413.75 cr
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Ahmedabad: In a bid to enhance coastal footprint across southern markets, the Adani Group�??s building material company Ambuja Cements on Monday...

Ahmedabad: In a bid to enhance coastal footprint across southern markets, the Adani Group�??s building material company Ambuja Cements on Monday announced to acquire My Home Group�??s 1.5 MTPA (million tonnes per annum) cement grinding unit in Tuticorin, Tamil Nadu, for Rs413.75 crore.Ambuja Cements has signed a definitive agreement to acquire the cement grinding unit of the My Home Group.

The acquisition, funded through internal accruals, takes Adani Group�??s total cement capacity to 78.9 MTPA, the company said in a statement.The buyout deal will aid in enhancing the coastal footprint across southern markets of Tamil Nadu and Kerala. The plant is spread across 61 acres of land with a long-term fly ash supply agreement for raw material sourcing. �??We are glad to announce this acquisition, strengthening our foothold in the region and aligning perfectly with our commitment to delivering high-quality products and services to our customers,�?? said Ajay Kapur, CEO (cement business), Adani Group.

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