Adani Group has announced plans to expand the captive port capacity of Sanghipuram to handle larger vessels of size 8000 DWT. The investment follows the acquisition by Adani Group firm Ambuja Cements of a majority stake in Sanghi Industries Ltd (SIL) for an enterprise value of Rs 50 billion.
Ambuja Cements recently announced that it has acquired a majority stake in Sanghi Industries Ltd (SIL), one of the leading cement manufacturers from western India, at an enterprise value of Rs 5,000 crore. As per the deal, Ambuja Cements acquired 56.74 per cent shares of SIL from its existing promoter group – Ravi Sanghi & family.
Sanghi Cement has a manufacturing unit at Sanghipuram in Gujarat’s Kutch district, which is also connected with a captive jetty at Sanghipuram. It has a 6.6-MTPA (Million Tonnes per annum) capacity clinker plant and a 6.1-MTPA capacity cement Plant. “We will also invest in deepening and expanding the captive port capacity in order to accommodate larger vessel sizes of 8000 DWT,” said Karan Adani.
