It has not disclosed the bid amount for the block, whose limestone resources are estimated at 141 million tonnes
').insertAfter(".article-content__img");$(".article-content__img div").find('div').remove();
Ambuja Cements Declared Preferred Bidder For Limestone Block In Odisha
An e-auction was conducted by the Odisha government for the Uskalvagu limestone block, situated in Malkangiri district, and spread over an area of 547 hectares, the company said
Topics
Ambuja Cements | limestone reserves | Odisha
Ambuja Cements on Thursday said, it had been declared as the 'preferred bidder' for the Uskalvagu limestone block in Odisha. The company along with its subsidiary ACC has a capacity of 67.5 million tonne with 14 integrated cement manufacturing plants and 16 cement grinding units across the country.
An e-auction was conducted by the Odisha government for the Uskalvagu limestone block, situated in Malkangiri district, and spread over an area of 547 hectares, the company said.
It has not disclosed the bid amount for the block, whose limestone resources are estimated at 141 million tonnes. 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. Once the terms and conditions are fulfilled, the company will be declared a successful bidder, it said.
"The company shall get the statutory licences and permits related to mining operations once declared a 'successful bidder' and subsequently enter into a 'Mine Development and Production Agreement (MDPA)' with Government of Odisha to commence the mining operation," the firm said.
Subscribe to Business Standard Premium
Exclusive Stories, Curated Newsletters, 26 years of Archives, E-paper, and more!
First Published: Thu, February 16 2023. 20:31 IST
RECENT NEWS
Citigroup Allegedly Favoured By Drug Traffickers For Money Laundering Activities
Recent allegations by U.S. law enforcement officials have cast a shadow over Citigroup, one of the world’s largest ban... Read more
Central Bank QE Losses: Financial Realities And Economic Implications
Quantitative Easing (QE) has been a central tool for central banks to stimulate economic growth during periods of financ... Read more
Leadership Shakeup At Citigroup Fuels Succession Rumors
Jane Fraser's recent appointment of three new executives at Citigroup has stirred speculation on Wall Street about the b... Read more
Capital One And Discover Merger: Boosting Competition And Innovation In Financial Services
The potential merger between Capital One and Discover could create a formidable competitor in the financial services ind... Read more
Citigroups Fat-Finger Error: Lessons In Financial Oversight
The financial world was taken aback when Citigroup, one of the largest global banks, was fined £62 million by UK regula... Read more
Titi Coles Legacy In Finance: Pioneering Diversity And Leadership
Titi Cole, one of the most senior Black women in the world of finance, recently exited her high-profile role at Citi. He... Read more