Published on Sat, Sep 23, 2006 at 09:30 | Source : Moneycontrol.com
Updated at Sat, Sep 23, 2006 at 10:10
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MSPL's steel plant to be ready in 2009
The Rs 2,200-crore steel plant of MSPL Ltd, the Hospet-based mining and iron exporting company, will be ready for operations in 2009, said Mr Shrenik Baldota, Executive Director, MSPL Ltd.
'Steel manufacturing companies are not interested in using iron ore `fines' (fragmented ores) for steel making because it is a lengthy process. They only use `lump' ores for making steel. Steel companies having their own mines have stock-piled tonnes of fines in their mines. This may create environmental hazards and pollute rivers and affect agriculture fields,' said Mr Shrenik Baldota.
The MSPL officials also commented on the inefficiency on the part of steel manufacturing companies to increase steel production in the country.
'Steel companies are advocating a ban on iron-ore exports to strangulate this sector. This will paralyse the sector making them easy buy-out targets for these companies. We request the Government to stop leasing out mines to steel plants,' said Mr Baldota.
