Shree Cement emerges as winner for Maharashtra limestone mine

5 Jun 2023 , 10:33 AM

Shree Cement informed that it has won the bid for a limestone mine in Maharashtra’s Chandrapur district with estimated reserves of 50 million tonne.

The mine can meet the raw material needs of a 1.5 million tonne per year cement manufacturing plant.

The mine covers an area of 105 hectares. It is located less than 200 kilometres from Nagpur, where multiple supply routes connect to the company’s cement plants.

The Maharashtra state government launched the auction process in February, with the results expected in the last week of May.

A similar mine auction in 2017 for a limestone mine in Chandrapur was hotly contested, with Ambuja, UtraTech, and Dalmia said to have participated. Ambuja Cement eventually won the mine license. Both UltraTech and Ambuja run cement manufacturing plants in Chandrapur.

According to the bidding terms, the bid winner must obtain all environmental and forest clearances. The mines are located near railheads at Chandrapur and Warora stations. The rules outline that rail sidings must be built by the concessionaire.

At around 10.35 AM, Shree Cement was trading 0.36% higher at Rs 24,947.10 against the previous close of Rs 25,038.40 on NSE.

For feedback and suggestions, write to us at [e-mail]