SAIL RMD lines up Rs 3000cr to develop mines

The raw materials division (RMD) of Steel Authority of India (SAIL) has lined up an investment of over Rs 3,000 crore to increase its iron ore production from
the existing 15 million tonne (mt) to 25 mt by 2012 to meet the company's enhanced iron ore requirement.

This would include development of Chiria mines involving an investment of Rs 1,800 crore and Taldih mine at a cost of about Rs 1,300 crore.

Another Rs 237 crore would be spent on three other mines at Kiriburu, Meghahatuburu and Bolani, M Roy, executive director of SAIL RMD, told PTI here.