Penna buy to cut logistics costs for Adani Cements: CFO Vinod Bahety
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Mumbai: An increased usage of the sea route for transportation, post the buyout of Penna Cement, will help bring down logistics costs for Adani Cements, chief financial officer Vinod Bahety told analysts in a call. Adani Cements transports less than 2% of its cargo through the sea route, and access to five bulk cement terminals at Kolkata, Gopalpur, Karaikal, Kochi and Colombo through Penna Cement is expected to boost this to 10% by 2027-28 (April-March), he said. "A key highlight of this transaction is that it gives me complete strength for the servicing of peninsular India. A lot of companies have cement, but this company has been much more visionary in terms of sea logistics infrastructure," Bahety said. For the cargo that is transported through the sea route, it can help bring down costs by as much as ₹300-400 per tonne, while on an overall basis, it will bring in savings of ₹50-70/tonne. Adani Cements uses the sea route for...
