BS reported that Orissa Minerals Development Company Limited will be investing INR 1,000 crore in forward integration. The Bird Group company is planning to put up a two million tonne beneficiation and two million tonne pellet plant at Barbil in Orissa.

Mr Satish Chandra CMD of OMDC said that “Our proposal for the project is already with the government. Clearances from the ministry of steel, Planning Commission, are required.”

Consultancy Development Center under the Ministry of Science & Technology, has been appointed as a consultant to fix an agency to build the plant on turnkey basis.

OMDC has set a target of achieving a 10 million tonnes by 2013-2014. Mr Chandra said that “With 10 million tonnes of production and subject to clearance of the beneficiation and pellet plant, the turnover of the company will be INR 5,000 crore by 2015.”

OMDC has six iron ore mines with estimated reserves of about 206 million tonnes. He added that “We have the Indian Bureau of Mines to reassess our reserves.”

The Pollution Control Board of Orissa has given consent to establish and operate all six mines and clearance of Wild Life Management Plan and Forest Entitlement Act for remaining four mines is expected within two months’ time. Forest clearance for the four mines is also expected to be received within a year’s time, after which leases of four mines will mature for renewal.

(Sourced from BS)