Ambuja Cements today announced in an exchange filing that the company has signed a definitive agreement to acquire My Home Group’s 1.5 MTPA Cement Grinding Unit in Tuticorin, Tamil Nadu. The acquisition estimated at a total value of Rs 413.75 crore through internal accruals will aid in enhancing the coastal footprint across southern markets of Tamil Nadu and Kerela.
The total cement capacity of Adani Group stands at 78.9 MTPA. The asset spread across 61 acres of land, conveniently located near the Tuticorin Port with a long-term fly ash agreement will be value accretive from the beginning. Ambuja Cements will leverage the coastal footprint and state-of-the-art marine infrastructure and
equipment, ensuring that the best quality products are delivered.
The limited availability of limestone in Tamil Nadu presents a unique competitive advantage with coastal movement of clinker from the Sanghipuram Plant ensuring cost-efficient operations for the company.
Ajay Kapur, CEO – Cement Business, Adani Group, said, “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. In addition
to the infrastructure and geographical advantages, Ambuja Cements will also inherit the existing dealer network and retain current employees, facilitating a smooth transition and
enabling the rapid ramp-up of utilisation.”
