Page 27 - CV- Feb-March 2023 copy
P. 27
It's
Adani vs Birla autam Adani knows that India's infrastructure ambitions are huge
and the spending on creation of new bridges, roads, residential and
Gcommercial spaces will only rise multifold as India focuses on
in race to spending its way out of the pandemic-induced slowdown.
cement India's Adani acquired Ambuja and ACC from Swiss giant Holcim for $6.5 billion
making him India's second largest cement producer instantly just behind
Birla-led UltraTech cement. Both will vie to capture a bigger share of India's
status as growing infrastructure pie.
infrastructure The acquisition was swift even though UltraTech and JSW had also bid for
Holcim's stake. The company aims to become India's largest cement maker
powerhouse and will double capacity to 140 MTPA from the current 70 MTPA by 2030.
With fresh fund infusion of 200 billion rupees from new owners, the entity has
enough of a “war chest to scale up new expansions, organically or
inorganically,” Prateek Kumar, a Jefferies analyst, said.
Adani acquired Ambuja
"What makes cement an exciting business is the headroom for growth in
and ACC from Swiss giant
India, which exceeds that of every other country well beyond 2050," Adani
Holcim for $6.5 billion
Group chairman Gautam Adani said.
making him India's second
largest cement producer
He said India has a 7x headroom for growth compared to China as the per
instantly just behind Birla-
capita consumption in India is at 250 kg vis-à-vis China's 1600 kg.
led UltraTech cement. It is
eyeing Jaypee Group's
Adani isn't stopping just at that. A recent report suggested that the group is
cement business that will
looking at buying Jaypee Group's cement business. The deal is expected to
further strengthen its
be valued in the range of Rs 3,298-4,120 crore, an ET report cited people
presence in the cement
with knowledge of the matter as saying.
space.
February-March 2023 / CONSTRUCTION VISION / 25
