The Hindu Business Line : AP Govt tenders for Galaxy granites soon

THE State Government plans to float global tenders to exploit the potential of three Galaxy granite blocks located in Cheemakurthi in Prakasam district of the State.

The State Minister for Mines and Geology, Ms Sabitha Reddy, said this move follows a committee decision to invite strategic venture partners to tap these granite mines.

It is estimated that these mines could yield up to 7,000 cubic metres per acre and the prices range from Rs 20,000 to Rs 75,000.

Addressing a news conference along with officials of the Andhra Pradesh Mineral Development Corporation (APMDC), Ms Reddy said that an extent of 190 acres has been identified for offer as three blocks. The other block of 61acres, minus the land already allotted, would also be put on offer to potential joint venture partners.

Referring to media reports about favouritism to some firms both in terms of granite blocks and iron ore mines, Ms Reddy said, "Far from being so, we have made the entire process more transparent and it is for the potential partners to take advantage of the business by successfully bidding for these projects."

On APMDC revenues, the minister said that from a total turnover of Rs 700 crore last year, it was projected to touch Rs 1,000 crore this year. "But, due to some unforeseen developments and some court related developments, this is likely to be a little over Rs 900 crore. But given the plans to offer more blocks for development, we expect significant jump in total turnover."

On the barytes mining issue, the minister said that the corporation has not shown any favour to any party and has brought about total transparency in the dealings. The effort has been to broadbase the number of buyers, which include Gimpex, Ashapura and IBC Company.

"Apart from these issues, we are in the process of opening up of some more areas including iron ore mine potential as also gold mining options. Already some companies are engaged in aerial surveys to assess the total potential," the minister said.

Article E-Mail :: Comment :: Syndication :: Printer Friendly Page