India's second richest man Gautam Adani is now betting on a new business to increase his already swelling coffers. The Adani Group has announced their foray into the cement business.
Adani's flagship company Adani Enterprises informed the exchanges that it has incorporated a wholly-owned subsidiary, Adani Cement Industries Limited (ACIL), to manufacture all types of cements.
Adani who is now the world's 14th richest man, added $43 billion in the first six months of 2021, the fastest rise for any individual in the world, according to the Bloomberg Billionaires’ Index. Adani Enterprise played a large role in that rise with the stock moving 250% higher in the last six months.