Bhubaneswar: The state-owned Orissa Mining Corporation (OMC) has decided to set up its second Chrome Ore Beneficiation Plant (COBP) with an investment of Rs 22 crore, official sources said.
According to Steel and Mines Minister Padmanabha Behera, OMC decided for the second COBP plant to generate extra income from the low grade ore generated during the course of chromite mining.
Its present COBP at Kaliapani in Orissa's Jajpur district has an annual feeding capacity of 1,80,000 tons.
Sources said the OMC's move for the second COBP came in the wake of suggestions made by the experts who said that most of the low grade chromite ore hold prospects of being beneficiated to high grade concentrate which had tremendous export potential.
Performance of the existing COBP and the prospect of the value addition to the low grade ores encouraged OMC to set up another similar unit.
The new unit with a feeding capacity of 1.5 lakh MTPA would also be set up at Kaliapani in Jajpur district.
Meanhile, the OMC's Q-1 turnover has skyrocketed to an all-time high of Rs 332.04 crore. "This is 68 per cent rise compared to the corresponding period of the previous year", an official release said adding that the Q-1 turnover in 2006-07 was Rs 197.62 crore.