Oriental Trimex Strikes Black Gold: 30-Year Odisha Granite Lease Set to Transform Stone Industry

Image Source: Indian Economic Observer

Oriental Trimex Limited, a leading force in India’s natural stone sector, has clinched a game-changing 30-year mining lease for a Jet Black Granite Quarry spanning 4.961 hectares (12.260 acres) in Village Poteru, Malkangiri district, Odisha. This bold move, granted by the Odisha government, positions Oriental Trimex at the forefront of the decorative stone market with a massive deposit of premium jet black granite boasting high export potential.

Key Highlights:

The newly secured quarry is independently valued at an impressive INR 258.77 crores, with the mining plan already greenlit by state authorities. Environmental clearance is anticipated by November 2024, paving the way for swift operationalization and revenue generation.

This strategic acquisition is expected to significantly boost Oriental Trimex’s revenue and profitability, reinforcing its leadership in the natural stone industry.

The company is simultaneously expanding its market footprint, launching a 21,000 sq. ft. flagship showroom in Greater Noida by September 2024, targeting the booming construction demand spurred by the upcoming Jewar Airport and Aerocity.

Oriental Trimex is also diversifying its product portfolio, introducing low-cost Indian granites, designer porcelain tiles, nano stones from China, and marble-inspired quartz products, catering to a wider customer base.

Financially, the company is on a strong trajectory, having recently paid down a major portion of its debt and on track to become debt-free, further enhancing its market credibility.

With its Odisha quarry lease, Oriental Trimex is poised for a new era of growth, innovation, and industry dominance.

Sources: Business Standard, RP Realty Plus, NSE India