Ambuja Cements, which is part of the Adani Group, has been declared as the 'Preferred bidder' for the Uskalvagu limestone block in an e-auction conducted by the Odisha government.
The block is situated in the Malkangiri district of Odisha over an area of 547 hectare with an estimated limestone resource of 141 million tonnes having an average CaO (calcium oxide) content of 43.74 per cent.
"The company shall get the statutory licences and permits related to mining operations to be declared a 'successful bidder' and subsequently enter into a 'Mine Development and Production Agreement (MDPA)' with Government of Odisha to commence the mining operation," Ambuja Cements said in a stock exchange filing on Thursday.
Ambuja Cements is among India's leading cement companies.
Ambuja, with its subsidiary ACC Ltd, has a capacity of 67.5 million tonnes with fourteen integrated cement manufacturing plants and sixteen cement grinding units across the country.
"Ambuja Cements is pleased to have been a part of this process and looks forward to this valuable partnership with the Government of Odisha in the overall development of the state. As the most trusted cement brand in India, the Company's sustainable operations and initiatives is a testament of its philosophy of contributing to the larger good of the society," it said in the filing.
Adani Group, in 2022, acquired a controlling stake in Ambuja Cements Ltd and its subsidiary ACC.
( With inputs from ANI )
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