Ambuja Cements has taken a majority share in Sanghi Industries, buying the cement maker for Rs 5,000 crore ($667m). Karan Adani, Director of Ambuja Cements, said, “the company wants to exploit Sanghi’s location, adjacent to the sea and coal mines, and its limestone reserves to establish the Kachchh plant as the cheapest clinker production plant in the country. Ambuja believes it can produce clinker for Rs 1,500-1,600 per tonne. Immediately after the acquisition, Ambuja plans to increase its cement capacity from 6.1 million tonnes to 10 million tonnes and further expand to 15 million tonnes in two years.”
