Adani group firm Ambuja Cement bags 24 limestone mines in FY24

Ambuja Cements, a subsidiary of the Adani group, has won 24 bids for new limestone mines with a total resource of 587 million tonnes. The company aims to have a capacity of 140 million tonnes per annum by 2028, with sufficient cash to achieve this through brownfield expansion and acquisitions. The company recently acquired Hyderabad-based Penna Cement, adding 14 MTPA to its capacity to 89 MTPA.