Gujarat Mineral Development Corporation Limited has informed the Exchange regarding a press release dated May 06, 2025, titled "Press Release GMDC Ltd. and City Gold Pipes Pvt. Ltd. (A consortium of Goldcrest Cement Private Limited and Kailash Darshan Housing Development (Gujarat) Private Limited) Sign Long-Term Supply Agreement for Limestone from Kutch s Lakhpat Punrajpur Mine.".
GMDCLTD · price
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GMDC has signed a 40-year Long-Term Supply Agreement with City Gold Pipes Pvt. Ltd., a consortium of Goldcrest Cement and Kailash Darshan Housing Development, to supply 150 million tons of limestone from its upcoming Lakhpat Punrajpur Mine in Kutch, Gujarat. The agreement was signed on May 6, 2025 by GMDC's MD Roopwant Singh and City Gold Pipes' representative Sanjay Agrawal. City Gold Pipes will use this limestone to set up a greenfield integrated mega-capacity cement plant in the region. The deal is expected to generate thousands of direct and indirect jobs and contribute to Gujarat's state revenue through royalty, NMET, DMF, and GST collections.
This is a major long-term revenue visibility boost for GMDC, securing offtake for a massive 150 million ton limestone asset over four decades. Positive for shareholders as it monetizes a key mining asset, supports future earnings, and reinforces GMDC's role in Gujarat's industrial growth.