Gayatri Projects receives LOA for new Iron Ore production project worth Rs33.23cr

LOA received by company is for Putulpani Quarry of Gandhamardan Block ‘B’ Iron Ore Mine from Odisha Mining Corporation Limited.

Sep 25, 2020 01:09 IST India Infoline News Service

Gayatri Projects
Gayatri Projects Limited (GPL) has received Letter of Award (LOA) for Putulpani Quarry of Gandhamardan Block ‘B’ Iron Ore Mine from Odisha Mining Corporation Limited (OMC) for “Mine Operator for production of 10 lakhs MT/per year of Iron Ore.”
 
The company had emerged select bidder for the project on September 10, 2020. The award value of the project is Rs33.23cr.
 
“The company has received the Letter of Award (LOA) on September 23, 2020 from The Odisha Mining Corporation Limited (OMC),” the company informed the exchanges on Thursday.
 
The mine operator work involves hiring of Plant and Mining Machineries for Excavation/raising of ROM by drilling and blasting, transportation of ROM to crushing and/or screening plant to be installed by the Agency, crushing &/or screening of ROM to obtain finished product of 10-40 mm CLO & -10 mm Iron Ore Fines, transport of finished product to specified yards after necessary weighment, cleaning of quarry faces, disposal of sub grade and Over Burden IOB) including associated rejects/spoils/spurious materials to the specified yards, etc,
 
The period of work shall be one year contract for a total Quantity of 10.00 lakh MT/year. The contract period may be extended by another One year at the sole discretion of OMC with the approval of BOD of OMC. The contract may be further extendable on yearly basis under mutual consent of both the parties with the approval of BOD of OMC.

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