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Firoz Rozindar

Bhimasamudra

(Karnataka), Jan 31

Mineral Enterprises Ltd (MEL) plans to set up one steel plant each in Chitradurga and Hassan district.

Mr Basant Poddar, MEL Managing Director, told the press here late last week that the company has already started the land acquisition process, which is to be completed within six months.

Mr Poddar said that the company needs at least 150 acres in Chitradurga and about 400 acres in Hassan for the steel plant.

He said that while the company would spend around Rs 200 crore in Chitradurga, Rs 1,000 crore would be spent to set up the plant in Hassan.

“We hope to complete both the projects within two years after the land acquisition,” Mr. Poddar said. The mining company is expected to offer job to nearly 500 people in both the steel plants.

Mr Poddar said the steel plants would use high-grade iron ore to manufacture iron while the low-grade ore would be exported, if the State Government were to lift the ban on export.

More Stories on : New Projects | Steel | Karnataka

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