Adani's Ambuja Cements Expands with Penna Cement Acquisition
June 20, 2024, 3:54 am
Adani's Ambuja Cements, part of the Adani Group, is set to acquire 100% of Penna Cement in a deal worth Rs 104.22 billion. This move will boost Ambuja's cement production capacity and enhance its presence in South India and Sri Lanka, directly competing with UltraTech Cement. The acquisition is fully funded through internal accruals and aligns with India's infrastructure development under the Modi government. Ambuja aims to increase its market share and production capacity significantly by 2028.
Adani Seeks BKC Land for Dharavi Revamp
Adani Group has approached the MMRDA to acquire land at the Bandra-Kurla Complex for a casting yard as part of the Dharavi redevelopment project. This initiative aims to transform Dharavi into a modern urban space by providing modern housing and infrastructure to over 60,000 families. The casting yard at BKC will streamline construction processes and ensure efficient execution of the redevelopment plan, promising enhanced living conditions in Mumbai.
Road Contractors Focus Solely on Construction
The Ministry of Road Transport and Highways has relieved road contractors from developing wayside amenities, allowing them to focus solely on road construction. This policy shift aims to expedite highway projects and improve their quality by inviting separate bids for amenities development. This change will streamline project execution and enhance the overall infrastructure development in India.
India Trials Green Steel with Hydrogen
India is gearing up to trial green steel production using hydrogen as an alternative to coking coal. This initiative aims to reduce carbon emissions in the steel industry, a significant contributor to greenhouse gases. Pilot projects in collaboration with major steel companies will assess the feasibility of hydrogen-based steel manufacturing. Replacing coking coal with hydrogen in the reduction process could have significant environmental benefits.
Havells Boosts AC Manufacturing Capacity
Havells India plans to increase the manufacturing capacity for its Lloyd brand of air conditioners to meet rising consumer demand. This strategic move aims to strengthen Havells' market position in the air conditioning segment by offering energy-efficient and technologically advanced cooling solutions. The expansion involves enhancements at existing facilities and the establishment of new production lines, reflecting the robust growth in the air conditioner market.
(Source: ET)
Adani Seeks BKC Land for Dharavi Revamp
Adani Group has approached the MMRDA to acquire land at the Bandra-Kurla Complex for a casting yard as part of the Dharavi redevelopment project. This initiative aims to transform Dharavi into a modern urban space by providing modern housing and infrastructure to over 60,000 families. The casting yard at BKC will streamline construction processes and ensure efficient execution of the redevelopment plan, promising enhanced living conditions in Mumbai.
Road Contractors Focus Solely on Construction
The Ministry of Road Transport and Highways has relieved road contractors from developing wayside amenities, allowing them to focus solely on road construction. This policy shift aims to expedite highway projects and improve their quality by inviting separate bids for amenities development. This change will streamline project execution and enhance the overall infrastructure development in India.
India Trials Green Steel with Hydrogen
India is gearing up to trial green steel production using hydrogen as an alternative to coking coal. This initiative aims to reduce carbon emissions in the steel industry, a significant contributor to greenhouse gases. Pilot projects in collaboration with major steel companies will assess the feasibility of hydrogen-based steel manufacturing. Replacing coking coal with hydrogen in the reduction process could have significant environmental benefits.
Havells Boosts AC Manufacturing Capacity
Havells India plans to increase the manufacturing capacity for its Lloyd brand of air conditioners to meet rising consumer demand. This strategic move aims to strengthen Havells' market position in the air conditioning segment by offering energy-efficient and technologically advanced cooling solutions. The expansion involves enhancements at existing facilities and the establishment of new production lines, reflecting the robust growth in the air conditioner market.
(Source: ET)