Adani Group Share: Adani Group’s cement company will invest ₹1000 crore

Adani Group company Ambuja Cements said that it plans to invest Rs 1,000 crore to set up a cement grinding unit in Godda district of Jharkhand. The new 4 million tonne per annum (MTPA) cement grinding unit will be set up after necessary approvals, Ambuja Cements Limited (ACL) said in a statement.

According to PTI, Ajay Kapoor, CEO of the cement business, said, “We believe that Jharkhand has immense potential in terms of resources, infrastructure and skilled manpower, which makes it an ideal location for this project.”

“We look forward to working closely with the state to ensure the successful implementation of this project,” the company said.

Ambuja along with its subsidiary ACC Limited has recently acquired Sanghi Industries Limited, which has a capacity of 74.6 MTPA with 18 integrated cement manufacturing plants and 14 cement grinding units across the country.