India's cement sector sees a concrete 2024 with over 10 major deals

Cement assets attracted both acquisitions and fresh financial investments worth over $3.5 bn

With over 10 deals announced in 2024, the cement sector logged the highest number of pacts, including acquisitions and fresh financial investments, in a single calendar year since 2014, with the combined value of investments over $3.5 billion.

 

During the year so far, 11 deals have been announced, according to Bloomberg data. Some of them were led by the top two firms in the cement sector in India- UltraTech Cement and Adani-promoted Ambuja Cements- and were concentrated in the South India market.

 

Most of the deals have increased the concentration of cement assets within the top four companies, even as