Uncategorized

Adani group prepays financing for Ambuja cement

Also, the promoters have paid off a $500 million financing

Published

3 years ago

March 14, 2023

admin

As part of their debt repayment strategy, the Adani family paid off $2.15 billion in margin-linked share-backed financing by the end of March.

Furthermore, the promoters have pre-paid a $500 million facility obtained for Ambuja acquisition financing.

This is in line with the promoters’ commitment to increase equity contribution, and they have now infused $2.6 billion out of the total acquisition value of $6.6 billion for Ambuja and ACC, according to a statement from the company.

“The entire pre-payment program of $2.65 billion has been completed within six weeks, which testifies the strong liquidity management and access to capital at sponsor level, supplementing the solid capital prudency adopted at all portfolio companies,” the statement added. The Adani family had acquired Ambuja Cements and its subsidiary ACC for $6.6 billion.

The promoters later agreed to invest an additional Rs 20,000 crore to increase both companies’ capacity from 70 to 140 mtpa.
Following a report by US-based short seller Hindenburg, the group’s shares experienced significant volatility. The group has denied all allegations and repaid promoter loans in order to release pledged shares across all group companies.

Up Next

Vedanta Aluminium pact with Dalmia cement to supply industrial wastes

Don't Miss

Shyam Metalics eyes $1 bn in revenue from stainless steel business

Uncategorized

L&T wins Hindalco, Tata Steel projects in Odisha, Jamshedpur

L&T bags major aluminium and steel sector orders

Published

6 days ago

October 28, 2025

admin

Infrastructure major Larsen & Toubro (L&T) announced on Friday that it has secured significant orders from Hindalco Industries and Tata Steel, strengthening its presence in the metals and minerals sector.

The company’s minerals and metals business vertical won an order from Hindalco to set up a 180 KTPA aluminium smelter and gas treatment centre for a greenfield project in Odisha, as well as a separate order from Tata Steel to construct a coke oven battery at Jamshedpur.

These are among several recent orders bagged by the vertical in India, L&T said in a filing to the Bombay Stock Exchange (BSE).

The scope of the projects includes engineering, manufacturing, supply, construction, and plant installation.

T Kumaresan, Senior Vice President and Head of Minerals & Metals at L&T, said,

“These order wins across the aluminium and steel sectors are a testament to L&T’s engineering excellence, execution capability, and long-standing customer relationships. They further strengthen our role in shaping the nation’s industrial infrastructure, while deepening our engagement with the steel sector through world-class execution and technological excellence.”

The contracts underscore L&T’s strategic focus on expanding its footprint in India’s metals and industrial infrastructure segment, which continues to see strong growth driven by rising domestic demand and capacity expansion across core sectors.

Uncategorized

Shyam Metalics Unveils Rs 100 billion Capex Plan Under Vision 2031

Company targets Rs 400 billion topline by 2031 with 2.5x revenue growth

Published

2 weeks ago

October 23, 2025

admin

Shyam Metalics and Energy Limited (SMEL) has announced its Vision 2031, outlining a Rs 100 billion capital expenditure plan to expand capacity and achieve a topline of Rs 400 billion by 2031—a 2.5x revenue growth from current levels.

The company plans to enhance its integrated operations by focusing on high value-added and downstream products, including specialty steel, stainless steel, flat products, and aluminium. It also aims to strengthen its presence across key sectors such as defence, railways, engineering, and infrastructure.

SMEL will leverage brownfield expansions in West Bengal, Odisha, and Madhya Pradesh to optimise capital efficiency and minimise execution risk. The Vision 2031 roadmap underscores the company’s commitment to sustainable, value-driven, and capital-efficient growth across the metals sector.

Uncategorized

Tata Steel, Air Water India Ink 20-Year Deal for Jamshedpur ASU

Partnership to operate 1,800-tonne daily oxygen unit enhances steel efficiency

Published

2 weeks ago

October 23, 2025

admin

Tata Steel has signed a 20-year agreement with Air Water India Private Limited (AWIPL) to operate and maintain its advanced Air Separation Unit (ASU) in Jamshedpur. The partnership aims to boost Tata Steel’s industrial gas infrastructure and improve efficiency through the use of cutting-edge cryogenic technologies.

The agreement was signed between Peeyush Gupta, Vice President (TQM, GSP & SC), Tata Steel, and Kausik Mukhopadhyay, Managing Director, AWIPL. Under the contract, AWIPL will manage operations of the ASU, which can produce 1,800 tonnes of oxygen per day, along with nitrogen, argon, and dry compressed air. These gases are critical to Tata Steel’s blast furnaces and steel melting operations.

The ASU is currently in the stabilisation phase and will be officially handed over to AWIPL next month. The collaboration leverages AWIPL’s global expertise in cryogenic operations, particularly from its facilities in Japan, ensuring world-class maintenance and reliability.

The initiative underscores Tata Steel’s focus on integrating sustainable and efficient technologies across its facilities, aligning with its long-term commitment to responsible steelmaking and operational excellence.