Sandur Manganese & Iron Ores to set up special alloy steel plant in Karnataka
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Sandur Manganese and Iron Ores??? board has taken on record the in-principle approvals received from the Government of Karnataka (GoK) for setting up of a 2.5 lakh tonne per year medium sized special alloy steel plant, iron ore beneficiation plant of an optimum feed capacity of 1.7 million tonne of Run of Mines and a Ropeway over a length of 4 km from Mines to Railway siding.
Further, the board has taken note of the allotment of 75 lakh fully paid equity shares of Rs 10 each at a premium of Rs 10 per share aggregating to Rs 15 crore made by Star Metallics and Power (SMPPL), a subsidiary of the company. With this allotment the company holds 3.25 crore equity shares constituting 74.29% of SMPPL’s paid up equity share capital.
Sandur Manganese and Iron Ores is based in Sandur, India. It is engaged in manufacturing of manganese ore, ferrosilicon, ferro manganese, pig iron and silica manganese.
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