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News Adani Group to fund growth through internal accruals

Adani Group to fund growth through internal accruals

Written by Global Cement staff 03 April 2023
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India: Adani Group says that it will raise funds for its 2028 capacity expansion plan through internal accruals. The producer plans to double its cement capacity to 140Mt/yr by 2028, and also double its sales to US$8.5bn that year. The Financial Express newspaper has reported that the group says its internal accruals will be 'sufficient' to realise its aims. The group is reportedly 'on track' to commence the first phase of the planned expansion in early-mid-2023. It has also set out a cost reduction roadmap with a view to becoming India's most profitable cement company.

Chair Gautam Adani says that he anticipates a 'multi-fold rise' in all-Indian cement consumption due to forecast high economic growth and the government's infrastructure spending plans.

Last modified on 05 April 2023
Published in Global Cement News
Tagged under
  • India
  • Adani Group
  • ACC
  • Ambuja Cements
  • Expansion
  • Capacity
  • Sales
  • target
  • Strategy
  • growth
  • funding
  • Finance
  • cost reduction
  • market
  • demand
  • Government
  • Infrastructure
  • Outlook
  • GCW602
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