KIOCL inks pact with Karnataka govt; to invest Rs 2,000 cr - Feedback

State-run iron ore pellets maker KIOCL has inked a pact with the Karnataka government to set up a beneficiation plant and a pelletisation unit in Bellary district in the state.

The iron ore beneficiation plant will have a capacity of four million tonnes per annum (MTPA) and the pelletisation unit will have a capacity of two MTPA, Kudremukh Iron Ore Company Ltd (KIOCL) said in a statement. The schedule ‘A’ Mini Ratna company signed the MoU at the ‘Invest Karnataka – 2016’ summit in the state capital Bengaluru. KIOCL Chairman-cum-Managing Director Malay Chatterjee said the company has internal strength for development of mines and setting up of plants and the proposed project will generate employment opportunity for locals.

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