Chennai-based co in JV with Malaysian-based Agate Group
Chennai-based Surana Industries is floating a joint venture with a Malaysian company- Agate Group- for mining of coal in Indonesia.
By PTI |
CHENNAI: Chennai-based Surana Industries is floating a joint venture with a Malaysian company- Agate Group- for mining of coal in Indonesia.
Surana Industries Managing Director Dinesh Surana told a press conference here today that his company has 49 per cent equity in the joint venture, which amounted to Rs.40 crore.
The coal mined would be shipped to India for use in the Surana Industries integrated steel complex coming up at Raichur in Karnataka at a cost of Rs.473 crore, he said.
The integrated complex would have a sponge iron plant to manufacture 1.28 lakh tonnes, a steel melting shop to produce 2.25 lakh tonnes and a rolling mill to produce two lakh tonnes of steel (all per annum),he said, adding a captive power plant to generate 35 MW of power would also come up at the plant.
The company proposed to import five lakh tonnes per year from Indonesia, he said.
Surana Industries Managing Director Dinesh Surana told a press conference here today that his company has 49 per cent equity in the joint venture, which amounted to Rs.40 crore.
The coal mined would be shipped to India for use in the Surana Industries integrated steel complex coming up at Raichur in Karnataka at a cost of Rs.473 crore, he said.
The integrated complex would have a sponge iron plant to manufacture 1.28 lakh tonnes, a steel melting shop to produce 2.25 lakh tonnes and a rolling mill to produce two lakh tonnes of steel (all per annum),he said, adding a captive power plant to generate 35 MW of power would also come up at the plant.
The company proposed to import five lakh tonnes per year from Indonesia, he said.
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