INSUBCONTINENT EXCLUSIVE:
Adani Group aims to capture 20 per cent of the Indian cement market by the financial year 2028.(Image: Bloomberg)2 min read Last Updated :
Heidelberg Materials' Indian cement operations, according to The Economic Times
to compete with top cement producer UltraTech Cement of the Aditya Birla Group, Adani Group has made a string of acquisitions in the sector,
plans to capture 20 per cent of the cement market by FY28
The group aims to capture 20 per cent of the Indian cement market by the
Neither Adani Group nor Heidelberg Materials has commented on the report yet.
Through its acquisition of Ambuja Cement in September 2022,
Adani Group became the second largest cement producer in India
This landmark deal, valued at $6.5 billion, was reportedly the largest in India's infrastructure and materials space.
Germany-based
Heidelberg entered India in 2006 and currently operates four plants with a total capacity of 12.6 million tonnes per annum
The company sells cement under two brands, Mycem and Zuari
Heidelberg Cement India's profit fell for the first time in five quarters during the three months to June, owing to lower sales volume and
price cuts.
(With inputs from Reuters)First Published: Oct 07 2024 | 9:58 AMIST
