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Billionaire Adani Plans to Double Cement Capacity After Closing Ambuja, ACC Acquisitions

  • Plan to take manufacturing capacity to 140 million tons: Adani
  • Adani Group to inject $2.5 billion in Ambuja through warrants

Adani Group, helmed by Asia’s richest man, plans to double annual cement making capacity by 2027 after closing the acquisition of Holcim Ltd.’s Indian assets, a deal that’s made the conglomerate the South Asian nation’s second-largest producer of the construction material.

“We anticipate going from the current 70 million tons capacity to 140 million tons in the next five years,” Chairman Gautam Adani said at an event Saturday that was later uploaded on YouTube on Monday. The tycoon said India’s per capita consumption of cement was almost seven times below that of China, giving the country ample space for expansion.