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India’s Adani group enters cement sector

Indian conglomerate Adani is moving into cement manufacturing, whose increased output typically raises demand for petroleum coke and coal.

Adani Enterprises, the group’s flagship company, has set up a subsidiary Adani Cement to manufacture cement. The company did not disclose details of its planned cement production capacity but market participants said Adani may aim for at least 10mn t/yr initially.

India is the world’s second-largest cement market after China but its per capita cement consumption of 200-250 kg/yr is less than half of the world’s average per capita use of 500-550 kg/yr and a fraction of China’s average use of 1,650-1,700 kg/yr. The Indian federal government’s thrust towards building infrastructure and housing is translating into growing cement demand.

Cement is a natural extension of Adani’s power business, market participants said, with Adani Power India’s largest private-sector power producer. Its foray into cement will help the company use fly ash, a key raw material for manufacturing cement, from its power plants.

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