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Thriveni Earthmovers and KJS Ahluwalia form iron ore pellet JV in Joda

Steel News - Published on Thu, 22 Dec 2011

BS reported that mine raising contractor Thriveni Earthmovers Ltd, active in the state\'s iron ore rich Joda sector, plans to diversify into pellet making by forging a joint venture with KJS Ahluwalia which owns the Nuagaon iron ore mines.

The proposed pellet plant is being taken up at a cost of INR 500 crore near Barbil in Keonjhar district over an area of 50 acres. The project will have pellet making capacity of 2.4 million tonnes per annum along with a 100 MW captive power plant.

Mr B Prabhakaran MD of Thriveni Earthmovers Ltd said that “We have got land and electricity as well as consent to establish the plant. Thriveni Earthmovers will hold 30% stake in the project with the remaining 70% stake held by KJS Ahluwalia. The production will begin in next 24 months.”

Apart from pellet making, Thriveni is also looking to utilize low grade iron ore in the state in a big way through beneficiation, a move the company hopes will result in slump in iron ore prices by about 50%.

Mr Prabhakaran said that “We are in talks with a few mine owners for beneficiation of low grade iron ore in the state. We are thinking of a centralized plant in the Joda Koira belt where beneficiation can be taken up on a huge scale. The beneficiation of every single million tonne of low grade iron ore will cost us INR 40 crore. Thriveni is mulling to take up beneficiation of iron ore with Fe content as low as 40 per cent and take it beyond 60%. This, we believe, can bring down iron ore prices by 50%.”

He added that “At Thriveni, it is our constant endeavor to raise productivity of mines by bringing in the best of technologies. For instance, for every acre of forest lost, we see what is the productivity and we intend to double it.”

(Sourced from BS)

Posted By : admin on Thu, 22 Dec 2011
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