(20 second reading) Ambuja Cements of the Adani Group, has signed an agreement to acquire My Home Group’s 1.5 MTPA cement grinding unit in Tuticorin, Tamil Nadu for Rs 413.75 crore.
The acquisition is expected to enhance the company’s footprint across the southern markets of Tamil Nadu and Kerala.
The facility is spread across 61 acres and is conveniently located near the Tuticorin Port with a long-term fly ash agreement will be value accretive from the beginning.
Ambuja, with its subsidiaries ACC Ltd and Sanghi Industries has taken the Adani Group’s cement capacity to 78.9 MTPA with 18 integrated plants and 19 cement grinding units.