Ambuja Cements Ltd has been declared the preferred bidder for the Uskalvagu limestone block in the Malkangiri district of Odisha, following an e-auction conducted by the state government, as per an exchange filing.
The block is spread over an area of 547 ha with an estimated limestone resource of 141 mln tn and average calcium oxide content of 43.74%.
Ambuja Cements will 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' with the Odisha government to commence mining operations.
The shares of Ambuja Cements were 0.6% higher at ₹346.75 on NSE at 10:15 IST.
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