In a bid to develop the Gare-Palma-IV/8 coal block in Chhattisgarh, Ambuja Cements is planning to invest around Rs 370 crore. The cement maker, in which Swiss building material major Holcim has majority stake, is expecting mining operation in the said block to start in 2018.
Ambuja had bagged the coal mine, which has an extractable reserve of over 11 million tonnes, taking part in the ongoing e-auction of coal blocks at a bid price of Rs 2,291 per tonne.
The company has 27.25 million tonnes of cement-making capacity. It has five manufacturing facilities including one in Chhattisgarh. Ambuja Cements has also eight cement grinding units.
