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Adani Group now has Ambuja Cements and 'ACC'

Tags: Economics/Business

Adani Group has bought SCC and Ambuja Cements from Switzerland's Holcim Group. With this, the Adani Group has now come second in terms of cement production in the country.

$10.5 billion deal:

  • This deal has been done for $ 10.5 billion i.e. about Rs 82,000 crore. This is the largest ever acquisition by the Adani Group and India's largest M&A transaction in the infrastructure and materials space.

Important Facts :

  • The Adani Group operates the country's largest commercial port and the largest renewable energy company.

  • Adani Group plans to double the production capacity of Ambuja and ACC Cement in the next five years. At present, the annual capacity of these two companies is 70 million tonnes, which is planned to reach 140 million tonnes after five years.

Full potential to increase demand for cement:

  • Adani said cement is likely to remain in high demand in India for the next several decades. India is the second largest cement market in the world but per capita, cement consumption in the country is less than half that of other countries.

  • Cement consumption in India is only 242 kg per capita, as compared to the global average of 525 kg per capita, India has significant potential for cement sector growth.

  • The middle class of the country is continuously increasing. The per capita cement consumption in China is 1600 kg.

  • With the rise of the middle class, the demand for cement in the country will also increase. Along with this, the government is also emphasizing on infrastructure.

  • The government plans to build 100 smart cities, 200 new airports, housing for all and concrete highways.

  • A foreign company has been formed for this acquisition. Barclays, Deutsche Bank and Standard Chartered Bank have pledged funds for this deal. Along with this, investment will also be made from Adani Group.

India in Cement Production:

  • India is the second largest cement producing country in the world (China ranks first). China produced 2.2 billion metric tons of cement in 2019. India accounts for about 8% of the global installed capacity.

Top Cement Producing Company of India:

  • UltraTech Cement Limited is the largest cement company in India. UltraTech is the largest producer of gray cement, white cement and ready-mix concrete in India.

  • Shree Cement Limited is one of the top 5 cement companies in India. The main products or services of Shree Cement Limited are Cement and Clinker. Shree Jungrodhak, Bangur and Rockstrong are among the company's brands.

  • Ambuja Cements Limited (ACL) is a well known brand in Western India. ACL is India's largest cement manufacturer having started production in 1986. Gujarat Ambuja Cements Limited was renamed as Ambuja Cements Limited. Holcim, a multinational cement company, acquired the management control of ACL in 2006.

  • The ACC was established on August 1, 1936. It is India's leading cement and concrete manufacturer.

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