Penna Cement will be purchased by Ambuja Cements for Rs 10,422 crore.

 

 

In Rajasthan, Telangana, and Andhra Pradesh, PCIL has a 14 million tonne per annum (MTPA) capacity (under construction). Ambuja Cements' total capacity will rise to 89 MTPA as a result of the acquisition.

 

The Adani Group-owned Ambuja Cements declared on Thursday that it had completed an agreement to purchase Hyderabad-based Penna Cement Industries Ltd. (PCIL) for an approximate sum of Rs 10,422 crore. Ambuja Cements intends to purchase every stake that P. Pratap Reddy and his family currently own in PCIL.

 

Internal accruals will be used to finance the purchase.

 

 

 

In Rajasthan, Telangana, and Andhra Pradesh, PCIL has a 14 million tonne per annum (MTPA) capacity (under construction). Ambuja Cements' total capacity will rise to 89 MTPA following the acquisition. It will assist Ambuja in accomplishing its goal of 140 MTPA by 2028, according to a press release from the business.

 

 

 

"With the acquisition of PCIL, Ambuja is well-positioned to strengthen its position as the cement industry leader in India and increase its market share in south India. According to Ajay Kapur, CEO and Whole-Time Director of Ambuja Cements, "PCIL's advantageous location and ample reserves of limestone offer an opportunity to increase cement capacity through debottlenecking and additional investment."

 

 

 

 

 

 The Adani Group now has 18 integrated cement manufacturing plants and 19 cement grinding units nationwide. According to the business, the acquisition will increase Adani Cement's market share by around 2% throughout India and by approximately 8% in south India.

 

 

 

Of PCIL's 14 MTPA cement capacity, 10 MTPA are now in operation, and the remaining 2 MTPA and 2 MTPA are being built at Krishnapatnam and Jodhpur and will be finished in six to twelve months.

 

 

 

Railway sidings support around 90% of the cement capacity, with waste heat recovery systems and captive power plants providing further assistance. Furthermore, the Jodhpur plant's excess clinker will allow for an extra 3 MTPA of cement grinding capacity on top of the 14 MTPA capacity.

 

By acquiring five bulk cement ports in Kolkata, Gopalpur, Karaikal, Kochi, and Colombo to service peninsular India, Adani Cement would be able to better serve its customers through sea transportation logistics. "Bulk cement terminals will turn into a game changer as they provide sea access to the eastern and southern regions of the Indian peninsula, in addition to an entry point into Sri Lanka," stated Kapur. The current PCIL dealers will relocate to the market network of Adani Cement. 

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