Adani Group announced on Sunday that it has signed a pact to acquire ACC and Ambuja Cements in India’s largest-ever infrastructure and materials acquisition transaction. Thanks to this, Adani is now the second largest cement manufacturer in India after UltraTech Cement, owned by Aditya Birla Group. The acquisition is subject to regulatory approvals and conditions.

Ambuja Cements and ACC currently have a combined installed production capacity of approximately 70 metric tons per annum (MTPA). Both companies are among the strongest brands in India with immense depth of manufacturing and supply chain infrastructure, represented by their 23 cement plants, 14 grinding stations, 80 ready-mix concrete plants and more. of 50,000 channel partners across India.

Ambuja and ACC will benefit from synergies with the Adani integrated infrastructure platform, particularly in the areas of commodities, renewable energy and logistics, where Adani portfolio companies have extensive experience and deep expertise. , the Adani Group said in a statement.

Commenting on the mega-deal, Gautam Adani, Chairman of the Adani Group, said, “Our entry into the cement business is further validation of our faith in our country’s growth story.”

“Not only is India expected to remain one of the world’s largest demand-driven economies for decades to come, but India also continues to be the world’s second largest market for cement and yet it accounts for less than half of the world average consumption of cement per capita. By comparison, China’s cement consumption is more than 7 times that of India. When these factors are combined with the many adjacent businesses of our existing businesses, including port and logistics businesses, energy businesses and real estate businesses of the Adani Group, we believe we will be able to build a uniquely integrated and differentiated business model. and prepare for significant capacity expansion,” says Adani.