Karan Adani, the elder son of Gautam Adani, is set to oversee the family’s scaled-up cement business, as the rapidly expanding conglomerate seeks to integrate the two cement companies it acquired for $10.5 billion in May.
Karan, is currently the CEO of Adani Ports and Special Economic Zone Ltd. He’s expected to find synergies between the group’s ports and cement businesses in order to create an integrated logistics firm.
Adani’s biggest spend this year has, however, been on cement, with the billionaire creating India’s second-largest cement producer by buying Ambuja Cements Ltd. and ACC Ltd. from Switzerland’s Holcim Ltd. in May.