A Memorandum of Understanding was entered into between three Public Sector Undertakings - Andhra Pradesh Mineral Development Corporation, Kudremukh Iron Ore Company (KIOCL) and Rashtriya Ispat Nigam Ltd (RINL) for exploration and exploitation of iron ore in Nemalkal and Hiradahalu village of Anantapur District in Andhra Pradesh.
This is aimed at setting up of beneficiation and pelletisation plants by KIOCL.
The agreement was signed in the presence of AP Chief Minister N.Kiran Kumar Reddy here.
KIOCL will set up beneficiation and pelletisation plants of 1.2 million tonnes per annum each depending on the availability of iron ore. The company will invest about Rs 1,000 core to Rs 1,500 crore and requires 36 months' time to begin the iron ore production and commissioning of the plants. The ceremony will take place in August, according the Chairman of KIOCL Malay Chatterjee.
This project will provide employment (directly and indirectly) to about 3,500 persons besides promoting several ancillary industries in this area.
The Chief Minister asked the Chairman and Managing Director of Rashtriya Ispat Nigam Ltd (RINL) A P Choudhary to sign a memorandum for setting up of Bayyaram Iron Ore Beneficiation plant and Steel plant at the earliest.
The Chief Minister suggested that local people should be given employment in the proposed plants and also stressed on proper coal availability for the plants.
He has asked RINL to work out the possibility of establishing a steel plant in Jammalamadugu area of Cuddapah district on the lands cancelled for Brahmani Steel plant.
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