The Adani Group is in advanced discussion with the Odisha government to build its first greenfield cement.
Group company Ambuja Cements is likely to build the four million tpa unit at Rs 3,000-3,500 crore outlay. The target is to make the cement plant ready by FY28.
As part of its foray in Eastern India, Adani recently announced plans to build a clinker grinding unit in Bihar for Rs 1,600-2,000 crore, and the plant in Odisha plant will help to deepen its footprint. The Group has so far only acquired cement businesses.
The Group plans to fund most of the expansion process through internal accruals.