Kudremukh plans capacity expansion
India's largest mining and pelletization complex, Kudremukh
Iron Ore Company Ltd. (KIOCL), plans to invest Rupees 15 billion (around $341.5 million) in new projects and renovation of existing mines in the Bellary-Hospet area in Karnata and Orissa.
The projects include Rupees 3 billion (around $68.3 million) for renovation of the company's pelletization plant in Mangalore and port handling infrastructure.
KIOCL plans to set up a 50:50 joint venture with Indian state-run steel producer Steel Authority of
India Ltd (
SAIL) in Orissa. The project involves expanding
production of ore from three mines- Barsua, Kalta and Taldi.