Chennai based H C Kothari Group and the civil engineering firm, NAPC, have formed a 50: 50 JV with an initial paid up capital of Rs 50 crore.
The JV company-- HCK-NAPC Mine & Ores, has acquired an existing mine with deposits of blue metal, black granite and other aggregates located at Tuticorin in Tamil Nadu.
According to industry sources, HCK-NAPC Mine and Ores has invested Rs 250 crore for acquiring lands at various locations so that mining operations would get a fillip. So far, the land parcels annexed by the company for mining development include 187 acre in Tuticorin, 50 acre in Chennai and 49 acre in Karur.
The company has drawn a plan to scale up operations by setting up mines across regions. Seven of the 12 mines that it plans to have, will be located in Tamil Nadu. It also intends to set up a greenfield mine at Wallahjabad.
Source : ProjectsToday
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