Visa Steel to tie-up with NMDC, OMDC for iron-ore

Visa Steel to tie-up with NMDC, OMDC for iron-ore
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First Published: Fri, May 02 2008. 01 50 PM IST
Updated: Fri, May 02 2008. 01 50 PM IST
Reuters
Mumbai: Visa Steel Ltd is looking to tie-up with two state-run mining companies to source about a 1,000 million tonnes of iron ore, a top company official said on 2 May.
The company is trying to work-out long-term deals with NMDC Ltd and Orissa Minerals Development Company Ltd (OMDC), Managing Director V. Saran told Reuters over the telephone.
“We are talking to them for about a million tonnes at least, let’s see how much they can commit,” he said.
The company, which currently sources iron ore from Orissa Mining Corporation (OMC), is also awaiting the Orissa government approval for physical allotment of captive iron-ore mining lease.
“The government has been promising it and even now they’re promising but we’re waiting for the physical allotment to happen. That will make our operations much more efficient,” he said. “It is expected anytime.”
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First Published: Fri, May 02 2008. 01 50 PM IST