Ambuja Cements, Part of Adani Group, to Acquire My Home Group's Tuticorin Cement Grinding Unit

Ambuja Cements, a prominent cement and building material company under the Adani Group, has finalized an agreement to acquire My Home Group's cement grinding unit in Tuticorin, Tamil Nadu. The unit boasts a production capacity of 1.5 million tonnes per annum (mtpa) and is valued at approximately ₹413.75 crore. The acquisition will be funded through internal accruals.

This strategic move is set to bolster Ambuja's presence in the Southern markets of Tamil Nadu and Kerala, enhancing its coastal footprint. My Home Group, headquartered in Telangana, operates across various sectors, and the Tuticorin cement unit spans an area of 61 acres near the Tuticorin Port.

Ambuja Cements emphasized the competitive advantage offered by the unit's proximity to coastal regions, enabling cost-efficient operations through the transportation of clinker from the Sanghipuram Plant.

Ajay Kapur, CEO of the Cement Business at Adani Group, expressed satisfaction with the acquisition, highlighting its alignment with Ambuja's commitment to delivering top-notch products and services. He underscored the benefits of inheriting the existing dealer network and retaining current employees, ensuring a seamless transition and facilitating rapid utilization ramp-up.

With this acquisition, the total cement capacity under the Adani Group now stands at 78.9 mtpa, consolidating its position in the industry.

HBL