India: Ambuja Cements, a subsidiary of Adani Group, has been declared as the 'preferred bidder' for the Uskalvagu limestone block in Odisha. An e-auction was conducted by the state government for the block, situated in Malkangiri district. Adani Group has not disclosed the amount that it bid for the block, but said it covers 547 hectares with estimated limestone resources of about 141Mt.
The company must now obtain 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.
