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Ambuja Cements to Acquire 1.5 MMTPA Cement Grinding Unit in TN

Ambuja Cements Ltd., a part of Adani Group, has signed an agreement to acquire My Home Group’s 1.5 Million Metric Tonne Per Annum (MMTPA) cement grinding unit located in Tuticorin, Tamil Nadu. This acquisition is valued at Rs. 413.75 crore and will take Adani Group’s total cement production capacity to 78.9 MMTPA.

The assets Ambuja will acquire include 61 acres of land and all the machinery and equipment at this grinding unit. This acquisition will be financed through the company’s internal accruals. According to Mr. Ajay Kapur, CEO of Adani Group’s Cement Business, the company will inherit My Home Group’s current dealer network and maintain the current workforce.