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New UserShree Cement secures coal linkage from SECL in Chhattisgarh
19 Jul 2016
Shree Cement today said it has won the bid for coal linkages from staterun
Coal India subsidiary, South Eastern Coalfields Ltd (SECL), for 80,000 tonnes annually.
"Company participated recently in the auction for coal linkages from SECL for cement sector
and won the coal linkage in Chhattisgarh based on the Letter of Intent (LOl) issued by SECL
dated July 15, 2016," it said in a regulatory filing.
The company will get the supply of the dry fuel mainly from New Kusmunda mine in Chhattisgarh for Rs 970 per tonne and it has been
allocated a supply of 80,000 tonnes per annum, it added.
In May, the company said it will set up a clinker plant with 2.8 million tonnes per annum (MTPA) capacity at its integrated cement plant in
Raipur, Chhattisgarh.
The investment required for the capacity addition at the 2.6 MTPA cement plant is about Rs 700 crore, which excludes the cost of land and
other infrastructure. It will finance the amount through internal accruals and the exercise will be completed by March 2018.
Last month, the firm said it has completed the expansion of grinding unit at Aurangabad (Bihar) from 2 MTPA to 3.6 MTPA.
Shares of the company today rose by 1.94 per cent to close at Rs 16,019.30 on the BSE.
Source: Economic Times