SAIL to invest Rs 5000 crore to develop mines

Kolkata, Nov 21: SAIL will invest around Rs 5,000 crore to develop new iron-ore mines and benefication facilities in Orissa and Jharkhand by 2012.

Speaking on the sidelines of a seminar on mining, SAIL Executive Director (raw material division) N Roy said, "The company plans to invest Rs four to 5,000 crore for the project." "SAIL will develop Chiria mines in Orissa and create benefication facilities in Barsua in Orissa and Gua and Tarli in Jharkhand," he said.

The company will also expand and modernise the existing cluster of Kiriburu and Meghahatuburu mines in Jharkhand and Bolani mines in Orissa.

The company has appointed MECON to prepare a Detailed Project Report (DPR) for these new projects.

"We will also float a global tender to appoint an international consultant for preparing DPR for some of this projects," Mr Roy said.

UNI