Winning Bizness Desk
Mumbai. India's richest and leading industrialist Gautam Adani has made a big presence in the cement industry and now he is all set to make another splash by another cement company. According to reports, Adani Group has received an offer from Orient Cement. If the deal goes through, Gautam Adani and his Adani Group's position in the cement industry will be stronger than ever. The report quoted people familiar with the matter as saying that industrialist CK Birla has approached Gautam Adani to sell his stake in Orient Cement. Earlier, CK Birla had received offers from other companies. But they were rejected due to lack of consensus on valuation.
At present only Ultratech Cement is ahead of Adani Group in India. Ultratech Cement currently has an annual production capacity of 140 million tonnes, followed by Adani with an annual production capacity of 70 million tonnes. Adani Group plans to increase its total cement production to 140 million tonnes per annum by 2028. The deal to acquire Orient Cement could help Adani achieve this target.
Received offer from Orient Cement
Gautam Adani, who reached the first row soon after his debut in the cement industry, has got an opportunity for a new contract.
A big deal in the cement industry
If the agreement between Adani Group and Orient Cement is confirmed, it will be a new big deal in the cement industry within a few months. Even earlier, Adani had struck a deal that changed the balance of the cement industry. when the group acquired Holcim's Indian business. The deal between Adani and Holcim was completed in September last year. ACC and Ambuja Cement, part of the Adani Group, signed a deal worth more than $10 billion. Adani Group has since completed the acquisition of cement business of Sanghi Industries in August this year.
Also focused on solar energy sector
Industrialist Gautam Adani's company is looking to further strengthen its grip in the solar energy sector. Adani Group is focusing on increasing solar power capacity. According to a report, the company is working on increasing the solar generation capacity to 10 GW. Currently the company has a capacity of 4 GW. More than 13 thousand jobs are expected to be created due to the new solar power capacity. Adani Group has recently raised USD 394 million from foreign banks and finance companies. Adani Group has an order book of 3000 MW. This order must be completed within 15 months. India has increased solar power generation from 2.63 GW in March 2014 to 71.10 GW in July 2023. In such a situation, there is a need to further strengthen the manufacturing ecosystem. The government has encouraged private sector companies like the Adani Group through the PLI scheme and several other incentive schemes.
