ACC Ltd wins Kannur Limestone Block in Karnataka

Leading cement maker ACC Ltd said that it was declared as the successful bidder for Karnataka’s Kannur Limestone Block.

With this mining block, the company is successful in securing an estimated limestone resource of over 250 million tonne. The bid amount has not been disclosed yet.This limestone block is close to the ACC’s existing Wadi cement plant, ACC Ltd said in a statement.

ACC is a subsidiary of the Swiss building material Holcim group.The company had participated in a virtual auction for the block, in the Kalburgi district of Karnataka.

ACC said that the Department of Mines & Geology, Karnataka Government had declared ACC to be the winning bidder for the limestone block in Kannur, Wadi Area in the state of Karnataka.

On Wednesday, ACC said that there is a 40.55% reduction in their consolidated net profit for the quarter ended on December 31, 2021, which is Rs 280.85 crore. The reason stated was adverse input inflation.

In the period from October 2021 to December 2021, the company’s operational revenue had increased by 1.95% which was Rs 4,225.76 crore.

Currently, ACC is operating 17 cement manufacturing sites and 80 concrete plants.

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