Stop export of iron ore, Jindal tells Centre

Hubli, Feb 22 (UNI) Jindal Steel Works (JSW) Vice-Chairman and Managing Director Sajjan Jindal today urged the Centre to stop export of iron ore forthwith to avoid shortage in the future.

Mr Jindal, who was here to participate in the inaugural function of 'Incomex-2007', a mega industrial exhibition, told newspersons here that the country was getting a royalty of Rs 289 crore per 100 million tonnes of iron ore export. But if the same iron ore was converted into steel, it would be worth Rs 35,000 crore.

He said that though most of the Chief Ministers in the country have appealed to the Centre to stop export of iron ore, the Centre had not responded positively. While countries like Japan and China were reserving their iron ore, India was exprting the same.

''These countries use our ore and sell steel to us. The present level of iron ore in the mines of the country might last for another 19-20 years, then we have to beg for steel,'' he said in reply to a question.

To another query, Mr Jindal said he did not want to comment on the mining bribery scandal kicked up by suspended BJP MLC Janardhan Reddy, but felt that it was just a stunt to divert the attention of the people.

He said his company would set up a steel distribution centre in the twin cities of Hubli-Dharwad, besides opening a BPO for employment generation which would help the poor and rural people.

UNI