In an e-auction held by the Government of Odisha, Ambuja Cements Limited, a subsidiary of Adani Cement, was declared the 'Preferred bidder' for the Uskalvagu limestone block. The block is located in the Malkangiri District of Odisha and covers 547 hectares. It has an estimated limestone resource of 141 million tonnes with an average CaO content of 43.74%.
To be declared a 'successful bidder,' the company must obtain the necessary mining licenses and permits, and then enter into a 'Mine Development and Production Agreement (MDPA)' with the Government of Odisha to begin mining operations.
Ambuja Cements is pleased to have been a part of this process and looks forward to this important partnership with the Government of Odisha in the state's overall development. As India's most trusted cement brand, the company's sustainable operations and initiatives reflect its philosophy of contributing to the greater good of society, said the company in its filing with the bourses.
Ambuja Cements Limited, a subsidiary of the Adani Group, is one of India's leading cement producers. Ambuja, through its subsidiary ACC Ltd., has a capacity of 67.5 million tonnes across the country, with fourteen integrated cement manufacturing plants and sixteen cement grinding units.
At around 11.31 AM, Ambuja Cements was trading 1.78% higher at Rs351, against the previous close of Rs344.85 on NSE. The counter touched an intraday high and low of Rs354.30 and Rs346.15 respectively.
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