Goa based Dempo group signs Rs 1000 cr MOU with Mah govt

Mumbai, Oct 11 (UNI) In a decision which will have a far reaching impact on the development of Sindhudurg district in Konkan region, Maharashtra Government today signed a Memorandum of Understanding (MOU) with Goa based Sindhudurg Mining Corporation Pvt Ltd, a Dempo group company for setting up a mining project.

The project will be set up at Kesari Phanasewade in Sawantwadi Taluka. The investment of Rs 1,000 crore will come in two phases. The Project involves identification and prospecting of low Fe banded iron formations available in Sindhudurg district, investing in developing mines for extraction of the mineral, setting up facility for processing plants to produce high value concentrates for supply to major steel mills in the country and abroad.

Dempo Metallurgical Research and Development Centre developed a process and technology to upgrade low Fe value ores. A pilot plant has been established successfully in Goa and is operating since 1998.

The production capacity of the plant after completion of both phases will be 2.25 million tonnes of concentrates, Srinivas Dempo, who heads the Dempo group said.

Mr Dempo signed the MoU with Industries secretary V K Jairath.

Sindhudurg district Gaurdian minister and Revenue Minister Narayan Rane, Finance Minister Jayant Patil, Energy Minister Dilip Walse=Patil,Industries minister Ashok Chavan were present on the occasion along with Chief Minister Vilasrao Deshmukh.

The Chief Minister said Sindhudurg was an industrially backward district and Dempo's arrival for a mining project heralded the beginning of industrial growth in the region which borders Goa.

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