By Vipin Agnihotri
The India Street has confirmation that 48-year-old CMD of Reliance ADAG, Mr. Anil Ambani has decided to enter into the cement sector. Initial signs are that Anil Ambani will set up four plants of five million tonne capacity each near his 4,000 MW coal-fired power project at Sasan in Madhya Pradesh.
In my opinion, the 20 million tonne capacity will catapult Anil Ambani led group into the third spot in the pecking order of the cement industry, after ACC and Grasim and give it a market share of around 10 per cent.
I am not really surprised with the latest move of Anil Ambani because he always goes for scale in whatever he does. It is worth mentioning in this regard that his Reliance Energy has lined up projects to produce around 24,000 MW of power. On the other hand, Reliance Communications at this moment of time has the GSM license for all the 23 telecom circles in the country. Furthermore, Reliance Communications is the leader in the CDMA segment.
What’s more, Anil Ambani has also built a big entertainment and financial services empire along the way. But despite all this, Ambani has had his fair share of controversies. Not so long ago, there was some news in the print media that the Rs 12,000 crore Reliance Power IPO would end up enriching Ambani by Rs 50,000 crore at the expense of ordinary shareholders.
Anil Ambani friendship with former Uttar Pradesh chief minister Mulayam Singh Yadav has cast doubt over his plans to set up a SEZ in the state under new chief minister Mayawati. Last but surely not the least, his long running rivalry with Mukesh Ambani- presently simmering over a disputed gas supply agreement is showing no sign of abating.
But all these issues has not affected Anil Ambani from single-mindedly pursuing his dream of making his business empire the biggest in India.
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