7 october 2024 : Adani Group is reportedly negotiating to acquire the Indian cement operations of Germany’s Heidelberg Materials for an estimated $1.2 billion, This move is part of Gautam Adani’s ongoing expansion efforts in the cement industry.
The conglomerate made its foray into this sector in 2022 by purchasing Holcim’s stake in Ambuja Cement, followed by the acquisitions of Sanghi Industries and Penna Cement Industries based in Hyderabad.
Previously, there were reports of Adani Group also considering the acquisition of Gujarat’s Saurashtra Cement, as well as the cement businesses of Jaiprakash Associates and Vadraj Cement, owned by ABG Shipyard.
Heidelberg Materials, which entered the Indian market in 2006, currently operates four plants with a total capacity of 12.6 million tonnes per annum and markets its products under the brands Mycem and Zuari.
