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| Andhra proposes APMDC, NMDC joint venture |
| BS Reporter / Chennai/ Hyderabad Aug 10, 2009, 00:13 IST |
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The state government proposes to form a 50:50 joint venture by the Andhra Pradesh Mineral Development Corporation (APMDC) with NMDC for exploring iron ore and also gold deposits.
The proposal was discussed at a meeting held by the chief minister, YS Rajasekhara Reddy, with the Union minister of state for steel, A Sai Pratap, state minster for mines and geology, B Srinivasa Reddy, and officials of NMDC and APMDC at his camp office on Saturday.
According to an official press release, the state government feels that there is a need for involvement of APMDC and NMDC in low-grade iron ore exploitation in Kadapa, Kurnool, Chittoor and Karimnagar districts and for establishment of beneficiation plants. The estimated reserves of iron ore in the four districts are about 200 million tonne.
The chief minister stated that the main idea behind the proposal was to augment revenue and employment generation. He wanted to carry forward the proposal within a time frame.
Meanwhile, the state Director of Mines and Geology, with the financial support of both APMDC and NMDC, will carry out investigations.
NMDC chairman and managing director Rana Som and APMDC vice chairman and managing director VD Rajagopal were also present at the meeting.
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