India's SAIL says gets half of Chiria mine
LONDON, Nov 17 (Reuters) - India's state-run Steel Authority of India (SAIL.BO: Quote, Profile, Research) has been allocated half of the reserves in the Chiria iron ore mine in the eastern Jharkhan state, an executive director at the company said on Tuesday.
"The issue about Chiria, 1 billion tonnes, has been settled in favor of SAIL," said V.K. Mehta told reporters on the sidelines of a steel conference organized by Metal Bulletin.
Mehta said he expected the issue about the remaining half of the reserves would also settle in favor of SAIL as well.
Mehta said the company was looking to build a new greenfield project in the same area, with a capacity of 12 million tonnes a year and a budget of around $12 billion.
He added that no decision has been taken on this plan and the land has not been bought yet.
(Reporting by Humeyra Pamuk, Editing by William Hardy)
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