Adani Group acquires one more cement plant in Himachal, strengthens its foothold in hill state
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The Newz Radar
DHARAMSHALA: Prominent businessman Gautam Adani has further expanded his foothold in the cement industry by acquiring two more plants in Himachal Pradesh and Punjab. The Adani Group successfully completed the purchase of these cement facilities for a significant sum of Rs 775 crore. Sources indicate that the Adani Group had previously acquired a substantial number of shares from the company, paving the way for these recent acquisitions.
The latest developments reveal that ACC, a key player in the cement sector, is now under the complete ownership of the Adani Group. This includes the acquisition of the Majholi plant in Nalagarh near Beed Plassey and another facility in Rajpura, Punjab. With these additions, Adani Group’s presence in the Himachal Pradesh cement sector has strengthened, building upon its earlier acquisition of the ACC Cement Plant in Barmana, Bilaspur.
However, the acquisitions have not been without challenges. Similar to the previous dispute over freight charges with the truck union in Bilaspur, reports suggest that there is growing unrest in the newly acquired cement plants in Nalagarh and Rajpura. An official overseeing the operations at the Majholi Nalagarh plant had hinted at changes in the near future. The plant had been experiencing a gradual reduction in production, with over 500 employees at one point. The company’s decision to shift operations to Rajpura and replace many employees further impacted the efficiency of the Nalagarh plant, causing it to operate below its full capacity.
As the Adani Group continues to make strategic moves in the cement industry, attention is now focused on how it will address the challenges and optimise the newly acquired facilities for enhanced productivity and profitability.
