Hospet, Oct. 18
The Hospet-based ILC Company Ltd, which is engaged in logistics and iron ore business, plans to set up a Rs 300-crore pellatisation plant, construct warehouses and cold storages.
Mr K. Somashekar, Managing Director, told presspersons here on Wednesday that the pellatisation plant, an 100 per cent export oriented unit, would be set up near Ginigera in Koppal district.
Land has been acquired for the project while the company is awaiting allocation of water and power supply from the State Government to execute the project. The proposed unit would generate employment for 1,000 people.
With this expansion, ILC hopes to increase its turnover to Rs 400 crore during the current fiscal from last year's Rs 250 crore.
Warehouses, cold storage
As part of the forward logistics linkages to its existing ILC services, the company would be investing Rs 20 crore for setting up large warehousing and cold storage facilities along the mainland routes, with mechanised handling, in a phased manner.
Warehouses would be set up near Mangalore and Karwar ports to harness the offseason logistic benefits.
The first phase of the storage project would be located at Sindhnaoor in Raichur district.
ILC also proposes to set up educational facilities for providing training in mine engineering, information technology and biotechnology to empower the rural youth with contemporary knowledge base and technological skills, which are lacking in this region.
The courses would start from next academic year, Mr Somashekar said.