Cement producers win coal block auctions

With a bid of Rs.1852 per tonne, India’s Jaypee Cement has won the Mandla South coal block in Madhya Pradesh. The block has reserves of 13.35 million t and has been designated for the non-power sector. Meanwhile, Ambuja Cement won the Gare-Palma Sector-IV/8 coal block in Chhattisgarh with a bid of Rs.2291 per tonne.

Auctions continue for further blocks, following the Supreme Court’s decision last year to cancel the allocation of some 204 coal mines.

The Jaypee Group is one of the largest cement producers in the country, but has been shedding capacity of late to reduce its indebtedness. Ambuja Cement is part of the Holcim group.

Edited from various sources by Katherine Guenioui

Sources:

• Economic Times
• The Hindu Business Line

Read the article online at: https://www.worldcement.com/asia-pacific-rim/09032015/cement-producers-win-coal-block-auctions-476/