Sanghi Industries signs share purchase agreement with Ambuja Cements to sell 56.74% shareholding

Dais World | 03/08/2023 12:27 PM

• Sanghi Industries Ltd (SIL) has clinker capacity of 6.6 MTPA (million tonnes per annum), cement capacity of 6.1 MTPA and limestone reserves of 1 billion tonnes.
• SIL’s Sanghipuram unit is India’s largest single-location cement and clinker unit by capacity, with a captive jetty and captive power plant.

Sanghi Industries Ltd (SIL), one of the leading cement manufacturers of Western India, today announced that it has signed a share purchase agreement with Ambuja Cements Ltd (ACL), the cement and building material company of Adani Cement and part of the diversified Adani Group, to sell 56.74% promoter shareholding for an enterprise value of Rs 5,000 crore. ACL will acquire shares of SIL from the existing promoter group.

Commenting on the transaction, Mr Ravi Sanghi, Chairman and Managing Director, Sanghi Industries Limited, said, "We are optimistic about the acquisition by Ambuja Cements, recognising it as a mutually beneficial opportunity for both the shareholders. With pride in the exceptional assets developed at Sanghipuram, the combination of the two holds the potential to establish the world's largest clinker manufacturing complex. This strategic collaboration stands to propel growth and innovation, creating a formidable force in the cement industry, and enhancing value for all stakeholders involved."

SIL operates India’s largest single-location cement and clinker plant by capacity at Sanghipuram in Kutch district, Gujarat. With 2,700 hectares of land, the integrated manufacturing facility has two kilns with a clinker production capacity of 6.6 MTPA and a cement grinding unit with a capacity of 6.1 MTPA. It has a captive power plant of 130 MW and a Waste Heat Recovery System of 13 MW. The unit is also connected with a captive jetty at Sanghipuram.

SIL also has a bulk cement terminal each at Navlakhi Port in Gujarat and Dharamtar Port in Maharashtra. Most of the cement is transported through the sea route, which is environment-friendly and cost competitive. SIL has a network of 850 dealers, with market presence in Gujarat, Madhya Pradesh, Rajasthan, Maharashtra and Kerala.

About Sanghi Industries

Sanghi Industries Limited is the flagship company of The Ravi Sanghi Group dealing in the production and distribution of Cement under the Brand Name "Sanghi Cement". Sanghi Cement, is produced at one of the world's largest single stream Cement Plant located at Sanghipuram in the Abdasa Taluka of Kutch District of Gujarat State. This plant is fully automatic with state-of-the-art technology and having capacity of 6.1 MTPA. The company produces superior quality 53 Grade OPC, PPC and PSC Cement and have revolutionized the way cement is produced and sold in India.

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