Hospet, Karnataka, Oct 18 (UNI) ILC Industries Limited, a leading iron ore exporter, today announced the setting up of a 100 per cent export oriented Rs 300 crore pelletisation plant at Ginigera near Koppal.
Talking to newspersons here, company Managing Director K Somasekhar said the plant, upon commission, was expected to produce 1.2 million ton pellets per annum and was expected to generate employment opportunites for over 1,000 people. The company had acquired 170 acres of land for the purpose and was awaiting water and power supply clearance from the Karnataka Government, he added.
To a question, he said the company would raise funds required for the purpose through debt equity and public. The production would be exported to mainly China as the requirement in the domestic sector was minimum, he added.
Mr Somasekhar said the company, which had already made its entry into banking and petroleum retailing sectors, would mark its foray into education, warehousing and cold storage sectors in the near future. It would spend Rs 20 crore for setting up state-of-the art warehousing and cold storage units along the mainland routes with a total capacity of ten lakh tons. It had also decided to establish closed warehouse at Mangalore and Karwar ports to harness off season logistics benefits.
Locations had been identified at these ports and also along the main land routes of North Karnataka. These warehouses, coupled with cold storages, would help agri-producers and other such industries, he hoped, adding that the first cold storage would be set up at Sindhnoor with a 20,000 ton capacity.
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Talking to newspersons here, company Managing Director K Somasekhar said the plant, upon commission, was expected to produce 1.2 million ton pellets per annum and was expected to generate employment opportunites for over 1,000 people. The company had acquired 170 acres of land for the purpose and was awaiting water and power supply clearance from the Karnataka Government, he added.
To a question, he said the company would raise funds required for the purpose through debt equity and public. The production would be exported to mainly China as the requirement in the domestic sector was minimum, he added.
Mr Somasekhar said the company, which had already made its entry into banking and petroleum retailing sectors, would mark its foray into education, warehousing and cold storage sectors in the near future. It would spend Rs 20 crore for setting up state-of-the art warehousing and cold storage units along the mainland routes with a total capacity of ten lakh tons. It had also decided to establish closed warehouse at Mangalore and Karwar ports to harness off season logistics benefits.
Locations had been identified at these ports and also along the main land routes of North Karnataka. These warehouses, coupled with cold storages, would help agri-producers and other such industries, he hoped, adding that the first cold storage would be set up at Sindhnoor with a 20,000 ton capacity.
MORE UNI SR GD RKN1631
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