Madhucon Projects buzzing on the back of its subsidiary getting coal mining license of 30970 hectors in South Sumatra, Indonesia
Madhucon Projects is buzzing on the back of its subsidiary getting coal mining license of 30970 hectors in South Sumatra, Indonesia. This is the second mining license of the company. Madhucon already operates a coal mine of 10,000 hectares at Dawas in South Sumatra and is in possession of another coal mine in Indonesia in East Kalimantan under a mining
contract.
The company will employ various agencies for environmental impact, coal exploration analysis and necessary clearances. It expects approvals for production within the next four years. Recently, the company commissioned a 1.8 million tonnes per annum clinker-grinding unit in Haridwar district in Uttarakhand.
Madhucon Projects touched an intra day high of Rs 163.90 and an intra day low of Rs 152.95 and at 15:00 PM, the share was quoting at Rs 153.50, up Rs 4.85, or 3.26%, trading with volumes of 277,085 shares, compared to its 5-day average of 117,185 shares, an increase of 136.45%.
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