The 1,047-kilometer Ganga Expressway in Uttar Pradesh is among ITD Cementation's biggest projects

Renew Exim—a Dubai-based unit of billionaire Gautam Adani’s Adani Group—has agreed to buy 46.6% of Mumbai-based construction company ITD Cementation India for 32 billion rupees ($381 million) as the ports-to-power conglomerate strengthens its capabilities amid an infrastructure boom in the country.

The company will buy India-listed ITD Cementation from Bangkok-based Italian-Thai Development at 400 rupees per share, a 25% discount to ITD........

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