Business Daily from THE HINDU group of publications
Thursday, Oct 19, 2006

Cross Currency

Group Sites

Corporate - New Projects
States - Karnataka
ILC to set up pellatisation unit in Koppal

Our Bureau

Hospet , Oct. 18

The Hospet-based ILC Company Ltd, which is engaged in logistics and iron ore business, plans to set up a Rs 300-crore pellatisation plant, construct warehouses and cold storages.

Mr K. Somashekar, Managing Director, told presspersons here on Wednesday that the pellatisation plant, an 100 per cent export oriented unit, would be set up near Ginigera in Koppal district.

Land has been acquired for the project while the company is awaiting allocation of water and power supply from the State Government to execute the project. The proposed unit would generate employment for 1,000 people.

Higher turnover

With this expansion, ILC hopes to increase its turnover to Rs 400 crore during the current fiscal from last year's Rs 250 crore.

Warehouses, cold storage

As part of the forward logistics linkages to its existing ILC services, the company would be investing Rs 20 crore for setting up large warehousing and cold storage facilities along the mainland routes, with mechanised handling, in a phased manner.

Warehouses would be set up near Mangalore and Karwar ports to harness the offseason logistic benefits.

The first phase of the storage project would be located at Sindhnaoor in Raichur district.

Academic services

ILC also proposes to set up educational facilities for providing training in mine engineering, information technology and biotechnology to empower the rural youth with contemporary knowledge base and technological skills, which are lacking in this region.

The courses would start from next academic year, Mr Somashekar said.

More Stories on : New Projects | Steel | Karnataka

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page

Stories in this Section
GV Films may get $12 million from Daewoo Securities

OIL pays dividend for 2005-06
L&T Oman bags $120-m orders
Tata Steel under S&P rating watch
UK laws that Indian acquirers need to know about
Tata Steel: Challenges ahead in Corus acquisition
Bisleri to invest Rs 100 cr in natural water biz
ILC to set up pellatisation unit in Koppal
Lanco's Mangalore power project achieves financial closure
FAO funds pepper unit in Lanka
184 Indian cos secure investment approvals in Ethiopia
BEML, Rotem may set up unit for metro coach inputs
Elder Health Care ties up with Australian co
Why public sector oil companies fight shy of actively hedging price risks
Big accounting firms may not be interested in SEBI's surveillance work
Our sourcing has been cheapest globally: Petronet LNG chief
DLF to invest Rs 8,000 cr in MP
Fortis Healthcare plans to set up unit in Gujarat
Canon eyeing Rs 500-cr turnover by next year
International Tractor to foray into car-making
New MD for Hunter Douglas India

The Hindu Group: Home | About Us | Copyright | Archives | Contacts | Subscription
Group Sites: The Hindu | The Hindu ePaper | Business Line | Business Line ePaper | Sportstar | Frontline | The Hindu eBooks | The Hindu Images | Home |

Copyright 2006, The Hindu Business Line. Republication or redissemination of the contents of this screen are expressly prohibited without the written consent of The Hindu Business Line