Adani Group cement acquistion is actually a bet on its infrastructure business

The Adani Group

has a diverse range of business interests, but they are most known for their construction work in areas such as

real estate and infrastructures,

such as airports, ports, power plants, and logistics. Being in a cement manufacturing company is a wonderful approach to cement their presence in all of these sectors.

Putting all suspicions to rest, the group announced that it has acquired two of India's most valued cement companies,

Ambuja Cements and ACC,

by outbidding JSW Group and India's largest cement manufacturer, Ultratech Cement.

Gautam Adani,

a billionaire paid up to $10.5 billion for the companies from Holcim, a Swiss company.

Holcim

controlled 63.11 percent of Ambuja and 4.48 percent of ACC directly. ACC is 50.05 percent owned by Ambuja Cements. Adani, an infrastructure company, will be the company's largest cement customer. Purchasing the cement industry represents backward integration for the oil-to-coal-to-power conglomerate, which will boost expansion in its infrastructure operations.

In an interview with The Economic Times, Gautam Adani, chairman of the Adani group, said, "On the demand side, we're continuing to complete a large number of construction projects across all of our infrastructure companies. I expect us to be one of the largest clients of our own cement industry."