SAIL to pump Rs 800 cr in development of Bhilwara mine: Media Report

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SAIL to pump Rs 800 cr in development of Bhilwara mine
State-owned steel maker SAIL has planned to invest around Rs 800 crore in order to develop Bhilwara iron ore mine in Rajasthan and set up a pellet plant with 2 million tonne per annum capacity at the site.

"We plan to produce 5 mtpa iron ore a year from the mine and set up a pellet plant with 2 mtpa capacity with an estimated investment of Rs 700-800 crore," C S Verma, Chairman of Steel Authority of India Ltd told media.

Moreover, the company will start seeking requisite clearances soon after getting the Letter of Intent (LoI) from Rajasthan government and production from the mine is likely to start in 3-4 years, said the media report.

Besides, SAIL has also prepared a blueprint to raise its steel manufacturing capacity to 50 mtpa by 2025, involving an investment of Rs 1.5 lakh crore.

The Bhilwara mine would help SAIL to partially meet its increased iron ore need as the company raises its steel-making capacity to 24 mtpa by next year from 14 mtpa at present, added the media report.

Dion Global Solutions Ltd.

Story first published: Monday, September 23, 2013, 9:10 [IST]
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