Adani To Acquire Holcim India Assets, Become 2nd Largest In India's Cement Sector

Adani has in the last couple of years diversified beyond the core business of operating ports, power plants, and coal mines.

Asia's richest man Gautam Adani's group on Sunday said it has clinched a deal to acquire a controlling stake in Holcim Ltd's businesses in India for USD 10.5 billion, marking the ports-to-energy conglomerate's entry into the cement sector.

Adani has in the last couple of years diversified beyond the core business of operating ports, power plants, and coal mines into airports, data centres, and clean energy.

The group last year set up two cement subsidiaries - Adani Cementation Ltd which was planning to set up two cement units at Dahej in Gujarat and Raigarh in Maharashtra; and Adani Cement Ltd.