Orient Cement terminates grinding unit MoU

Orient Cement has terminated a memorandum of understanding (MoU) with Adani Power Maharashtra Ltd (APML) to set up a grinding unit in Maharashtra, India. According to The Hindu, the MoU was signed in September 2021.

Orient Cement said APML has requested it not to pursue the venture further as “they are not able to obtain the required MIDC clearances for sub-leasing the parcel of land required for the cement grinding unit due to some legal issues.” Also, “the timelines agreed upon as per the MoU have crossed,” it added.

Orient Cement has accepted the position of APML and accordingly said that the non-binding MoU stands terminated.