Ambuja Cements has signed a definitive agreement to acquire My Home Group's 1.5 MTPA cement grinding unit in Tuticorin, Tamil Nadu. The acquisition estimated at a total value of Rs 413.75 crore will aid in enhancing the coastal footprint of the company in the southern markets of Tamil Nadu and Kerala.

The plant is spread over 61 acres of land, located near the Tuticorin Port and advances value with a long-term fly ash agreement. Ambuja Cements will leverage the coastal footprint and marine infrastructure and equipment, to ensure that best quality products are delivered.

Furthermore, the limited availability of limestone in Tamil Nadu creates a competitive advantage with coastal movement of clinker from the Sanghipuram Plant for cost-efficient operations. Ambuja Cements will also retain the existing dealer network and current employees, facilitating a smooth transition and enabling the rapid ramp-up of utilisation.

Ambuja Cements, a member of the diversified Adani Group, along with its subsidiaries ACC and Sanghi Industries has taken the Adani Group’s cement capacity to 78.9 MTPA with 18 integrated cement manufacturing plants and 19 cement grinding units across the country.