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Trimex plans Rs4,000 cr investments

Trimex plans Rs4,000 cr investments
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First Published: Sat, Jun 26 2010. 12 01 AM IST
Updated: Sat, Jun 26 2010. 12 01 AM IST
Hyderabad: Trimex Sands Pvt. Ltd, part of Chennai-based mining firm Trimex Group, has planned investments of Rs4,000 crore for the next eight years to expand its operations.
“The immediate plan is to invest some Rs1,200 crore to set up another mineral separation facility at Bhavanapadu, close to the existing facility at Srikurmam (in Andhra Pradesh),” group chairman Rajendra Prasad Koneru told reporters on Friday.
Trimex Sands is set to begin commercial operations of another facility separating heavy minerals from beach sands, involving an investment of Rs250 crore, he added.
Prasad said the company will eventually produce titanium metal and other value-added mineral products used in high-tech applications.
Trimex group has three mining licences covering 40 sq.km. of beach sand on India’s east coast, some 15km from Srikakulam, comprising proven reserves of some 18 million tonnes of ilmenite, an ore of titanium.
“We have started exporting minerals worth Rs18 crore a month on an average and expect some Rs200 crore of revenue with net profit margin of some 30% during the first year of operations,” said executive director Pradeep Koneru.
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First Published: Sat, Jun 26 2010. 12 01 AM IST