Date | Nov 10, 2016:
Australian mining giant NSL Consolidated has proposed to the Government of Andhra Pradesh to set up an integrated steel plant through its Indian subsidiary NSL Mining India (NMI), along with Wei Hua Group Co. Ltd and other companies from China, at Orvakal in Kurnool district.
The project is estimated to cost Rs.3,000 crore.
NMI has mining operations in Kurnool, where it has established an iron ore extraction facility, beneficiation and a pellet plant with an investment of nearly Rs.1800 crore.
NSL specialises in iron ore extraction, particularly low-grade iron ore.
The NSL’s beneficiation plant was set up with Chinese collaboration as Chinese technology is suitable for extracting such low-grade iron (with high silica content) as is available in Kurnool district, according to official sources. AP-Economic Development Board CEO J. Krishna Kishore told The Hindu that the NSL venture was a significant development.
(Source: http://www.thehindu.com/)