Visa Steel to tie-up with NMDC, OMDC for iron-ore
Visa Steel Ltd is looking to tie-up with two state-run mining companies to source about a 1,000 million tonnes of iron ore, a top company official said on Friday
By PTI |
MUMBAI: Visa Steel Ltd is looking to tie-up with two state-run mining companies to source about a 1,000 million tonnes of iron ore, a top company official said on Friday. The company is trying to work-out long-term deals with NMDC Ltd and Orissa Minerals Development Company Ltd (OMDC), Managing Director V. Saran told the media over the telephone.
"We are talking to them for about a million tonnes at least, let's see how much they can commit," he said. The company, which currently sources iron ore from Orissa Mining Corporation (OMC), is also awaiting the Orissa government approval for physical allotment of captive iron-ore mining lease.
"The government has been promising it and even now they're promising but we're waiting for the physical allotment to happen. That will make our operations much more efficient," he said. "It is expected anytime."
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"We are talking to them for about a million tonnes at least, let's see how much they can commit," he said. The company, which currently sources iron ore from Orissa Mining Corporation (OMC), is also awaiting the Orissa government approval for physical allotment of captive iron-ore mining lease.
"The government has been promising it and even now they're promising but we're waiting for the physical allotment to happen. That will make our operations much more efficient," he said. "It is expected anytime."
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