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Nuvoco Vistas Corp. Ltd., India's fifth-largest cement group, has been declared the preferred bidder for three significant limestone blocks (NB-01, NB-02, NB-03) located at Nimbol, Tehsil Jaitaran, District Beawar, Rajasthan, during the recently concluded auctions held by the Government of Rajasthan. These auctions were conducted via the MSTC e-auction portal. The auction saw participation from major cement players and other industries.
The blocks cover 41.37 hectares, have limestone resources estimated at 28.43 million tons, and are located near our cement manufacturing facility in Nimbol, Rajasthan, which provides a strategic advantage. Furthermore, these blocks were secured at a highly competitive price compared to other cement players. By having access to these deposits, the company can ensure the long-term sustainability of its operations through increased limestone availability.
Jayakumar Krishnaswamy, Managing Director, Nuvoco Vistas Corp. Ltd., commented, "By acquiring these limestone blocks, the Company ensures access to high-quality resources to strengthen its operations. This strategic move will boost our production capabilities, allowing us to more effectively meet the increasing demands of the cement industry. It reinforces our commitment to maintaining our position as a leading building materials company while driving excellence and sustained growth."
