ACC said that it has emerged as the successful bidder for the Kannur Limestock block In Karnataka.
The company had participated in an e-auction of Kannur Limestone Block in the Wadi Area, District Kalburgi, Karnataka conducted by the Dept. of Mines & Geology (DMG), Government of Karnataka.
DMG, Government of Karnataka has declared ACC as the successful bidder for Kannur, Wadi Area, Limestone block in the State of Karnataka.
Through this mining block, the company has secured estimated limestone resources in excess of 250 million tonnes. This limestone block is in close proximity to the company's existing Wadi cement plant.
ACC, a member of the Holcim Group, is one of India's leading producers of cement and ready mix concrete.
The cement makers's consolidated net profit slumped 40.6% to Rs 280.85 crore on a 1.8% increase in net sales to Rs 4,137.42 crore in Q4 December 2021 over Q4 December 2020.
The scrip advanced 0.05% to currently trade at Rs 2311.25 on the BSE.
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