CK Birla Group firm Orient Cement Ltd on Wednesday, February 22, said the non-binding memorandum of understanding (MoU) with Adani Power Maharashtra Ltd (APML) stands terminated.
"We further inform you that APML has requested the company to not to pursue this 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," the company said in an exchange filing.
The company has accepted the position of APML and accordingly, the said non-binding MoU stands terminated, it said.
Adani Power Maharashtra Ltd had entered into MoU with Orient Cement for facilitating bonafide use of land identified for exploring the possibility of establishing a cement grinding unit in Tiroda, Maharashtra.
(Edited by : Shoma Bhattacharjee)
First Published: Feb 22, 2023 6:56 PM IST
