Last Updated :
19 September 2009 at 18:50 IST
Bauxite mining leases in AP go to NALCO
BHUBANESWAR (Commodity Online): In a move that will benefit National Aluminium Company Limited (NALCO), Centre has given the nod to the mining lease proposals of Andhra Pradesh government for awarding the bauxite mine to the blue-chip firm over Gudem and Katamraju Konda bauxite blocks.
Andhra Pradesh government had recommended to the Centre for grant of mining lease in favour of NALCO.
The estimated bauxite deposits in the two mines are estimated to be around 85 million tons.
NALCO, which is also one of the Central Navartna public sector units, plans to build a 1.4-million ton green-field alumina refinery based on the Gudem and KR Konda bauxite deposits at Visakhapatnam district of Andhra Pradesh at an estimated investment of Rs 6000 crore.
This investment is part of its ambitious plan to be a reputed global company in the metals and energy sectors.
NALCO is India’s the largest alumina producer and third largest aluminium maker. It produced 1,576,500 tons of alumina and 361,262 tons of aluminium in 2008-09.
NCDEX CHANAJUN12 20 June 2012
contract was trading at
Rs 0 . What's your view on it?
After reading this article, people also read:
