VISAKHAPATNAM, January 12, 2016

Trimex Group will invest Rs. 2,500 crore on mining beach minerals at Bhavanapadu and Kalingapatnam in Srikakulam district.

An MoU in this regard was signed by group managing director Pradeep Koneru and Chief Minister N. Chandrababu Naidu on the second day of the CII Partnership Summit here on Monday.

The Bhavanapadu beach sand heavy minerals project is expected to generate 5,500 direct and indirect jobs. It will be executed by Trimex Heavy Minerals Private Limited (THMPL), while the Kalingapatnam project will be taken up under the aegis of Trimex Ores Private Limited (TOPL). The company has been mining beach minerals in Sri Kurmam in an area of 7.2 sq km. since 2008-09. Mr. Koneru said the government had given in-principle approval for mining lease for beach sand minerals like ilmenite, rutile, zircon, garnet and sillimanite over an extent of 17.88 sq.km at Bhavanapadu.

THMPL proposes to develop the mining lease area for mining of 10 MTPA of heavy mineral sand and install a mineral separation plant of 270 TPH for the production of ilmenite, rutile, zircon, garnet and sillimanite. He said the company had received all statutory clearances and would launch construction work in the third quarter of the current fiscal. Mr. Koneru added that the Bhavanapadu project would entail an investment of Rs. 1,500 crore.

Mr. Koneru said the government had accorded in-principle approval for the grant of mining lease for beach sand minerals like ilmenite, rutile, zircon, garnet and sillimanite.

(Source: http://www.thehindu.com/)