Adani in the mood to buy these cement companies! Birla’s tension will increase

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Adani Group Cement Business: Adani Group is fully focused on its cement business. The group is gearing up to expand its cement business. There are reports that Adani Group may acquire several cement companies and is evaluating the companies for this. Cement companies that Adani Group plans to acquire include Hyderabad-based Penna Cement, Gujarat-headquartered Saurashtra Cement and Jaiprakash Associates’ cement business, as well as ABG Shipyard-owned Vadraj Cement.

What are the details?

The Economic Times has quoted sources as saying that the Adani Group is setting aside $3 billion for the acquisition of these cement companies. Let us tell you that the group is aggressively pursuing an inorganic strategy to increase capacity and emerge as the largest cement producer overtaking Aditya Birla Group’s UltraTech in the next three to four years. Let us tell you that among the cement companies that the group is preparing to buy, Jaiprakash Associates and Vadaraj Cement are currently going through the process of bankruptcy. The National Company Law Appellate Tribunal (NCLAT) has issued a notice to ICICI Bank on a plea by Jaiprakash Associates Ltd, asking it to consider the one-time settlement (OTS) proposal submitted by the company by June 24. A total of Rs. There is a debt of over 26,000 crores.

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Earlier these companies were also taken over

Let us tell you that Adani Group had earlier acquired cement company Sanghi Industries. Let us tell you that Sanghi Industries Limited is a clinker and cement manufacturing company. It is produced in the world’s largest single-stream cement plant located at Sanghipuram in Abdasa taluka of Kutch district, Gujarat. Let us tell you that Adani Group had earlier bought Ambuja and ACC Cement for 10.5 billion dollars.

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