An MoU was signed between the NMDC Power Limited (NPL), a wholly owned subsidiary of Navratna Public Sector Undertaking, NMDC Limited under the Ministry of Steel and IEDCL, a subsidiary of M/s. IL&FS in the presence of Union Minister of Steel, Shri Beni Prasad Verma and Minister of State (Independent Charge) for Power, Shri Jyotiraditya Scindia here today. Under the MoU, a 2×250 Mw Thermal Power Plant will be set up under Joint Venture at Gonda, Uttar Pradesh.

Speaking on the occasion, Shri Beni Prasad Verma, said that establishment of Power Plant at Gonda will encourage potential agro based industries and help in ensuring better living and industrial growth in the region. He further added that the project would pave way for faster development of the area and opening of newer avenues of employment for the people of Gonda.

The Minister of Steel expressed hope that the partnership between NPL and IEDCL will help in establishing an efficient power plant at Gonda. He said that IEDCL will drive the project and the joint venture will prove to be extremely successful.

On the occasion, Shri Scindia said that power is the fulcrum of developing country like India. He added that India is witnessing tremendous capacity addition and that coming together of two giants like NMDC Power Limited and IL&FS will contribute immensely to the development of the nation. In Uttar Pradesh, there is 13.6% power deficit for which various steps like linking of various grids will be taken up soon, the Minister said.

The MoU was signed between Shri Hari Sankaran, Vice Chairman and MD IL&FS and Shri N.K. Nanda, Chairman, NMDC Power Limited. The project is estimated to be completed within three years at an approximate cost of around 3,000 crores.

Also present on the occasion were Shri V.K. Thakral, AS&FA, Ministry of Steel, Shri C.S. Verma, CMD, NMDC and senior officials of the Ministry of Steel and Ministry of Power.

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The Union Minister of Steel, Shri Beni Prasad Verma recently led a delegation to Tanzania to strengthen cooperation between the two nations in steel & mining. A Letter of Intent (LoI) was signed between Government of India and the Government of Tanzania on 6th April at Der es Salaam. The LoI was signed in the presence of the Union Minister of Steel, Shri Beni Prasad Verma and Prof. Sospeter Muhongo, the Minister of Energy and Minerals, United Republic of Tanzania.

Speaking about the need for cooperation in the field of mining and steel making, Shri Verma said “Tanzania has huge mineral resources which are yet to be fully developed. I believe there is a possibility of joint venture for Indian companies with mining entities in Tanzania.” He termed the LoI as a step in the direction of strengthening ties between the two countries.

The LoI signed by the Secretary, Ministry of Steel, Government of India, Shri D.R.S. Chaudhary, and the Permanent Secretary (Energy & Minerals), Mr. E.C. Maswi, Government of United Republic of Tanzania, inter-alia aims to promote and expand bilateral relations between the two countries in the mineral sector with focus on strengthening supply chain for growth of the steel industry in both the countries. The LoI aims to encourage investment opportunities in India and Tanzania in the iron & steel related businesses, facilitates exchange of technical know-how in developing iron and steel production and other steel related raw materials, including pelletisation plants and other associated industries. LoI aims that both the Governments jointly work for developing the steel industry and exchange technically qualified manpower for sustainable growth of iron & steel industry.

The Minister of Steel was accompanied by Secretary Ministry of Steel, Shri D.R.S. Chaudhary, Chairman, SAIL & NMDC, Shri C.S. Verma, and other senior officials from the Ministry. During the signing ceremony, High Commissioner of India to Tanzania, Shri Debnath Shaw, was also present.

The visit will not only strengthen relations between India and Tanzania. It will also give added thrust to the possibility of exploration and development of mineral assets in the country.

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A Memorandum of Understanding (MOU) was signed yesterday in Thiruvananthapuram, Kerala between Steel Authority of India Limited (SAIL), and Government of Kerala PSEs, Kerala State Industrial Development Corporation (KSIDC) and Kerala Minerals and Metals Ltd (KMML), for setting up a Titanium Project in Joint Venture in Kerala. The MOU was signed in the presence of the Chief Minister of Kerala, Shri Oommen Chandy and the Minister for Industries & IT, Kerala, Shri PK Kunhalikutty and Special Secretary & Financial Advisor of Ministry of Steel, Shri E.K. Bharat Bhushan, and SAIL Chairman, Shri C.S. Verma.

Through this MOU, possibilities of setting up of the Titanium Project in Joint Venture in Kerala will be explored by SAIL and KSIDC& KMML, in a phased manner. To begin with in Phase 1, setting up of a Titanium Sponge and Metal Plant based on supply of Titanium Tetrachloride by KMML will be considered. In subsequent phases, backward and forward integration will be explored for ensuring long term viability of the project.

Speaking on the occasion, the Chief Minister Shri Oommen Chandy, said that the project would lead to overall development of the region and will also contribute to faster economic growth of Kerala. He urged the state government and SAIL officials to take steps for early commencement of project activities. He conveyed his trust & confidence in SAIL`s capacity and capabilities and lauded SAIL’s exemplary work in the state of Kerala. SAIL, Chairman Shri C.S. Verma stated that Government of Kerala and SAIL have a longstanding association. He further said that, SAIL is continuously on the lookout for new business opportunities in the areas of its competency. The signing of MOU is a step in that direction.

This will be the another major titanium project in the state of Kerala, after the Nation’s first titanium sponge plant was put up at KMML’s Chavara complex in Kerala between KMML, Vikram Sarabhai Space Centre (VSSC) and the Defence Metallurgical Research Laboratory in the year 2011.

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