Monolithisch India Bags Quartzite Stone Block In Bihar For ₹157 Cr

Monolithisch India on Friday said it has secured a quartzite stone block in Nawada district through an e-auction conducted by Bihar's Mines and Geology Department for ₹157 crore.

The company produces premixed ramming mass, a key refractory material used in induction furnaces by the secondary steel industry.

The acquisition marks the largest strategic milestone in the company’s journey since inception and completes a significant step towards backward integration of its raw material supply chain, a company statement said.

The block has been allotted for five years, with an approved mining capacity of 7,10,000 metric tonnes (MT) per annum, translating into a cumulative capacity of 35,50,000 MT over the lease period.

The acquisition will provide greater control over the company’s key raw material requirements and help hedge raw material prices for the next five years, as Monolithisch India expands its silica ramming mass manufacturing capacity.

Consolidated group manufacturing capacity is expected to reach 5,76,000 MTPA.

Subject to statutory approvals expected within 3–4 months, commercial operations are targeted to commence in February/March 2027.

The ₹157 crore consideration will be paid in tranches over five years in accordance with state government guidelines. Mining operations will be undertaken through experienced national mining contractors on a per-ton raising contract basis, limiting the company’s direct infrastructure capital expenditure.

A dedicated beneficiation and storage unit will also be established near the block to support quality management, R&D and product development.

Harsh Tekriwal, Managing Director of Monolithisch India, said, "I am proud to announce that our backward integration is complete, with surplus raw material capacity, securing our needs that were supposed to grow rapidly with the commencement of our new greenfield project. The company is a major supplier of domestic integrated secondary steel clusters, especially in eastern and central India".

Tekriwal is of the view that this strategic move will significantly strengthen the company's competitiveness in quality and cost in the coming years.

This block belt was operational from 2015-2020, and the ore in this block was highly sought after by secondary steel cluster customers for its quality and consistency.

This allotment will also accelerate the development of new products based on ore behaviour from a single, consistent supply source.

He also said, "This acquisition is only the first step in our next phase of growth; we will pursue similar initiatives to secure raw materials before launching new product verticals".