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Industry
Gulf Oil starts work for new mining projects

MUMBAI: Gulf Oil Corporation said on Tuesday that work on the Rs 300 crore mining projects bagged by the company, were progressing well.

The Manuguru Project at Singareni, which started few weeks ago, has now stabilised and monthly production outputs have been achieved, Gulf Oil informed the BSE.

The Rs 190-crore Dudhichua project for Northern Coalfields at Madhya Pradesh had started two weeks ago. The production had increased and would stabilise within next four weeks, it added.

The mining contract for National Mineral Development Corporation at Donimalai Iron Ore Mine in Karnataka, which was awarded for a period of five years had also started last week.

All mining projects awarded to the company in third quarter of the current year had started and revenue streams from the two large projects at Singareni and Northern Coalfields would be available for a period of 2 and 3 years respectively, it said.

In addition, the infrastructure work undertaken by the company on the Outer Ring Road in Hyderabad was also progressing well and further contracts were awaited. - PTI

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