Ambuja Cements declared preferred bidder for limestone block in 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.