MUMBAI, May 16 — Indian billionaire Gautam Adani struck a US$10.5 billion deal to buy Swiss cement giant Holcim’s local business, the companies said, betting on a construction boom predicted in coming decades.
“Not only is India expected to remain one of the world’s largest demand-driven economies for several decades, India also continues to be the world’s second largest cement market,” he added. The acquisitions will make Adani the country’s second-biggest cement maker with a capacity of 70 million tonnes per year.
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