GMDC signs long-term supply agreement with JK Cement

30 Jan 2025 Evaluate

Gujarat Mineral Development Corporation (GMDC) has signed a Long-Term Supply Agreement (LSA) with JK Cement for the supply of 250 million tons of limestone over a period of 40 years from its upcoming Lakhpat Punrajpur Mine in Lakhpat Taluka of Kutch District in Gujarat. This agreement marks a strategic partnership towards monetizing the large limestone asset of GMDC and benefiting both the partners. It will support J K Cement in setting up a greenfield integrated mega-capacity cement plant, fostering industrial growth in the region.

The collaboration will stimulate investment, enhance industrial development, and generate thousands of direct and indirect employment opportunities in Kutch, contributing significantly to the socio-economic progress of Gujarat. Kutch’s coastal proximity, improved access to domestic and international markets, and cost-efficient logistics position it as an ideal hub for cement production. Furthermore, this initiative will contribute substantially to the State Exchequer through revenue generation in the form of Royalty, National Mineral Exploration Trust (NMET) contributions, District Mineral Foundation (DMF) funds, and Goods & Services Tax (GST) on both limestone and cement production.

Gujarat Mineral Development Corporation is engaged in business of mining and mineral processing.


GMDC Share Price

250.95 -4.85 (-1.90%)
27-Feb-2025 16:59 View Price Chart
Peers
Company Name CMP
Coal India 363.85
NMDC 65.18
GMDC 250.95
MOIL 303.40
Sandur Manganese 394.10
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