Varun Energy Corporation, a Madagascar unit of Mumbai-based Varun Industries, has signed an agreement with the Department of Atomic Energy to sell all its heavy minerals concentrate that that it will mine from its Madagascar blocks.
The company is building a Rs 200 crore processing plant for supply of mineral concentrate of about 500,000 tonne to the Department of Atomic Energy in the next eight-10 months.
"We expect a turnover in excess of Rs 1000 crore for the current year," said K Rathnakar Hedge of Varun Industries. For next year, he said, it should be in the region of around Rs 2,000-2,500 crore. For complete interview, watch video.
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