UCIL to invest Rs 2000 cr for new mines

Uranium Corporation of India (UCIL) will invest Rs 2000 crore to open new mines and set up processing plants in Jharkhand, Andhra Pradesh and Meghalaya, UCIL chairman-cum-managing director R K Gupta said.

Talking to newsmen today, Gupta, who was in the steel city to inaugurate Jamshedpur branch of Indusind Bank, said the Uranium Corporation was in the process of constructing three new mines in East Singhbhum district after Turamdih, where production has already started.

Apart from opening new mines at Bandurang, Bagjata and Moldih in the district, Gupta said the construction for the processing plant at Turamdih has already begun.

Gupta said about Rs 700 crore will be invested for these new projects, which were likely to be completed during the 10th five year plan in 2007-08.

Gupta said the pre-project activities for the expansion programmes were going on while it was waiting for clearances from various regulatory bodies, including the ministry of environment and forests, to start work.

The CMD said UCIL will also invest in Andhra Pradesh and Meghalaya to set up new mines and processing plants.

Gupta said ucil will carry out its expansion programme in Nalgonda district of Andhra Pradesh while Domia in Meghalaya has been identified for the new project.

Altogether, a Rs 2000 crore expansion package has been announced for the three states, Gupta said, adding that the processing plant at Turamdih near here was likely to be completed by 2006-07.