UltraTech Cement has been awarded Guma limestone block in Chhattisgarh. The company has won the limestone block in e-auction participating with over 600 bids for 15 hours. The state will receive approximately INR73.9bn (US$1.14bn), marking a new record in revenue accrued from a mineral auction. The amount reached 138.3 per cent of IBM price (INR431/t), and is in addition to other fees payable to the state.
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