Mumbai: Dalmia Bharat said on Friday it is acquiring the cement business of Jaiprakash Associates from the Adani Group for an enterprise value of ₹2,850 crore.The cement-maker will acquire 5.2 million tonnes of cement capacity and 3.3 million tonnes of clinker capacity based in Madhya Pradesh and Uttar Pradesh, adding to its 49.5-million tonnes production capacity as the fourth-largest producer of cement in the country.Also Read: Adani Power inks deals to buy Jaiprakash Power stake, Churk assets for over Rs 4,193 crore totalThe company is also in the midst of capacity expansion at Belgaum, Pune and Kadapa, and along with the acquired units at Rewa, Churk, Chunar and Sadwa, will have a total production capacity of 66.7 million tonnes by the December quarter of FY28.As a part of the deal, Dalmia Bharat will also get 99 MW of thermal power capacity, railway siding at Rewa and Chunar, along with a common railway siding at Churk.The transaction is likely to be completed within two weeks."This serves as a great strategic fit for Dalmia," Puneet Dalmia, managing director of Dalmia Bharat said. "It helps us move forward in our journey to be a pan-India player and provide a strong head start to serve the high potential markets in central region. I am optimistic that the expansion potential of these assets, along with close proximity with Dalmia's captive mines, will help us create a capacity hub for the future."In 2022, Dalmia Bharat was in an agreement with Jaiprakash Associates for its cement assets, but Jaiprakash Associates was admitted to insolvency before the deal could be completed. After the Adani Group won Jaiprakash Associates under the insolvency route, Dalmia Bharat executed a fresh business transfer agreement for the cement business."Considering newer markets, relatively better prices and Dalmia's proven cost leadership, these assets would augment Ebitda delivery and enhance overall returns for the company," the company said in a statement.The Adani Group-one of the largest infrastructure-focused conglomerates in the country-has a cement business of its own.Also Read: Adani Ports to acquire indirect control of Kanpur Fertilizers for Rs 1,500 crore under Jaiprakash Associates resolution planAdani Cement, which is the second-largest producer of cement in the country, recently toned down its growth ambitions and said it will instead focus on ramping up utilisation and rationalising its existing capacities, while calibrating its capital expenditure.