Penna buy to cut logistics costs for Adani Cements: CFO Vinod Bahety

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.