SAIL is likely to invest to ramp up capacity at its Gua iron ore mine in Jharkhand.
The company plans to invest around Rs 3,000 crore for the purpose. Of the total, the company will raise capacity of its Gua iron ore mine in Jharkhand to 10 million tpa at an investment of Rs 2,087 crore. It will set up a 4 million tpa pelletisation plant with an investment of Rs 865 crore. The contracts for developing the mine are likely to be finalised by October 2012. The Gua mine supplies ore to SAIL steel plants in Burnpur and Durgapur (both in West Bengal) among others.
Meanwhile, SAIL is making efforts to reopen the mine, located at the Saranda region. It has already submitted the mine wildlife conservation plan to the MoEF.