New mines and acquisitions drive growth

Adani group subsidiary Ambuja Cements is on an assertive expansion path, securing 24 bids for new limestone mines worth a total of 587 million tonnes, according to its annual report.

Following the acquisition of Sanghi Industries with reserves of 1 billion tonnes, Ambuja Cements continues its dynamic growth. This month, it acquired Hyderabad-based Penna Cement for Rs 10,422 crore, adding 14 MTPA to its production capacity and expanding its presence in the southern market, as well as entry into Sri Lanka.

With ambitious targets of 140 MTPA by 2028, the company is using its cash on hand for both brownfield development and acquisitions. In addition, significant investments in green energy are aimed at sustainably powering the majority of the production capacity being developed.

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