SAIL to invest Rs10,284 crore for developing iron ore mines
The Steel Authority of India Limited (SAIL) plans to invest an additional Rs10,284 crore for the development of its mines, under the Raw Material Division (RMD), to further increase the production of iron ore.
CS Verma, Chairman, SAIL, highlighted that RMD which runs seven captive iron mines at Bolani, Barsua and Kalta in Odisha and Kiriburu, Meghahatubure, Gua and Chiria in Jharkhand, aims to modernise and expand the capacity of mines in the Eastern part of the country.
He stated,"SAIL will invest Rs10,284 crore for development of mines under RMD as well as Bhillai to cater to its increased iron ore requirements."
He also mentioned that out of the total investment, SAIL will put in Rs940 crore to enhance the capacity of Kiriburu mines significantly to 5.50 million tonne per annum, from the current 4.25 million tonne.
He also highlighted that an additional Rs900 crore will be invested on the Meghahatuburu mines in Jharkhand, to further increase its capacity from 3 million tonne per annum to 6.50 million tonne per annum.
SAIL is also likely to invest Rs1091 crore to enhance the capacity of Bolani mines from the current 4 million tonne per annum to 10 million tonne per annum in the future.
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