New Delhi, Aug 3 (IANS): Ambuja Cements Ltd (ACL), the cement and building material company of Adani Cement and part of the diversified Adani Group, on Thursday announced the acquisition of Sanghi Industries Ltd (SIL) at an enterprise value of Rs 5,000 crore.

ACL will acquire 56.74 per cent shares of SIL from its existing promoter group, Ravi Sanghi & family. The acquisition will be fully funded through internal accruals.

“This landmark acquisition is a significant step forward in Ambuja Cements’ accelerating growth journey,” said Gautam Adani, Chairman of the Adani Group.

“By joining hands with SIL, Ambuja is poised to expand its market presence, strengthen its product portfolio, and reinforce its position as a leader in the construction materials sector. With this acquisition, the Adani Group is well on course to achieve its target of 140 MTPA of cement manufacturing capacity by 2028 ahead of time.

"With SIL’s limestone reserves of a billion tonnes, ACL will increase cement capacity at Sanghipuram to 15 MTPA in the next two years. ACL will also invest in expanding the captive port at Sanghipuram to handle larger vessels. Our aim is to make SIL lowest cost producer of Clinker in the country,” he added.

SIL’s integrated manufacturing unit at Sanghipuram in Gujarat’s Kutch district is India’s largest single-location cement and clinker unit by capacity.

With 2,700 hectares of land, the integrated unit 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.