Indian government-run Rail Vikas Nigam Limited (RVNL) has been awarded a contract estimated at $317 million by Indian miner NMDC Limited to develop and construct an iron ore buffer stockyard and blending facility at the southern port town of Vishakhapatnam, according to a company regulatory filing on Tuesday, June 23.
According to the filing, the project involves the establishment of buffer stockpiles and a blending yard with a material handling capacity of 10 million mt per year. The facility is expected to strengthen NMDC Limited’s logistics and material management capabilities at Visakhapatnam port.
The project is scheduled to be completed within 42 months from the date of the award. Once operational, the facility is expected to improve the handling, storage and movement of iron ore and other raw materials, enhancing supply chain efficiency.
Buffer stockyards and blending facilities play a crucial role in mining operations by helping companies manage inventories and maintain consistent quality of raw materials supplied to customers, NMDC Limited said.
