BS reported that Anil Dhirubhai Ambani Group is looking for acquisition for starting its cement business, much before it completes its 4,000 MW mega power project at Sasan in eastern Madhya Pradesh which is to provide the fly ash that is used to make cement

According to the project Anil Dhirubhai Ambani Group has initiated negotiations with various small and medium companies through a merchant banker for the acquisition.

ADAG has also appointed Mr Anil Singhvi as a vice chairman for Reliance Natural Resources which will set up the cement business. Earlier Mr Singhvi served Ambuja Cements as a managing director.