The Adani Group is set to enhance the captive port capacity of Sanghipuram to manage vessels of 8,000 DWT, according to APSEZ CEO Karan Adani. Concurrently, Adani’s subsidiary, Ambuja Cements, will acquire a majority stake in Sanghi Industries (SIL) for INR 5,000 crore, solidifying its presence in the cement market. The deal entails Ambuja Cements acquiring 56.74 percent of SIL shares from its existing promoter group. The strategy includes investment in deepening and expanding the port to support larger vessel handling and creating bulk terminals along the western coast for cost-efficient clinker and cement transportation. This move aligns with Adani’s goal to be the lowest-cost cement supplier in target markets.
Trending
- Yuva shakti, knowledge crucial to Viksit Bharat: Sarbananda Sonowal
- Godrej unveils first vertical storage warehouse in Maharashtra
- Prozo elevates Vaibhav Dhawan to dual role of COO and CTO
- GSV marks rail transport day with tribute to India’s rail legacy
- Indian seafarers abandoned in Indonesia amid surge in maritime neglect cases
- Shipping industry, China slam U.S. port fees, warn of global trade fallout
- India sends first sea shipment of pomegranates to USA from Maharashtra
- India’s electronics exports cross ₹3.25 lakh cr amid major policy push
- PM Modi to inaugurate Vizhinjam port, Boosting Kerala’s maritime role
- DP World launches ‘Bharat Africa Setu’ to double India-Africa trade
Get more than News - Get Insights