Ambuja declared as preferred bidder for Uskalvagu limestone block in Odisha
Feb 16, 2023, 13:02 IST
Ambuja Cements Ltd, a part of Adani Cement on Thursday said it has been declared as the 'preferred bidder' for the Uskalvagu limestone block in Odisha. An e-auction was conducted by the Odisha government for the block, situated in Malkangiri district, Ambuja Cements said in regulatory filings.
The Adani Group firm has not disclosed the bid amount for the block but said it is spread over an area of 547 hectares with an estimated limestone resource of about 141 million tonnes.
"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," it said.
Preferred bidders are those who are selected by the vendor with the intention to sell the business or award a contract, subject to the completion of terms and conditions.
Ambuja Cements with its subsidiary ACC Ltd has a capacity of 67.5 million tonnes with 14 integrated cement manufacturing plants and 16 cement grinding units across the country.
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The Adani Group firm has not disclosed the bid amount for the block but said it is spread over an area of 547 hectares with an estimated limestone resource of about 141 million tonnes.
"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," it said.
Preferred bidders are those who are selected by the vendor with the intention to sell the business or award a contract, subject to the completion of terms and conditions.
Ambuja Cements with its subsidiary ACC Ltd has a capacity of 67.5 million tonnes with 14 integrated cement manufacturing plants and 16 cement grinding units across the country.
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Mortgage platform LoanKuber raises $2 million led by Inflection Point Ventures
Indigo stock slides 4% in early trade after reports of a large block deal