Sources close to the development informed that state promoted mineral major Gujarat Mineral Development Corporation has cleared the decks for limestone supply to some of the cement projects signed during the Vibrant Gujarat Summit. Companies like Anil Ambani Group's Reliance Cementation, ACC and Adani are likely to sign long term supply agreements with GMDC soon.

Highly placed sources in mining outfit informed that GMDC has allocated close to 10 million tonnes of limestone reserves for four cement manufacturing projects.

A GMDC official that "We had received EoIs from six or seven cement players. Of them we have short listed around four companies and have also identified limestone from our own reserves. We are now waiting for government approval to enter into long term supply agreements with these companies.”

At least three of these companies are major players like ACC, Reliance Cementation and Adani Enterprises.

GMDC has allocated 2.5 million tonnes of limestone reserves for each at Kutch.

GMDC is likely to pick up a 26% equity stake in each of these projects. GMDC official informed that "The project size of each of the cement plants would be around INR 1000 crore to INR 1200 crore.”

(Sourced from BS)