Companies

Heavy mineral: Bothli Trade AG drags APMDC to court

M Somasekhar Hyderabad | Updated on January 23, 2018 Published on May 19, 2015




Controversy refuses to die down on the decade old, multi-million dollar titanium dioxide mining project in Andhra Pradesh which got embroiled in a mix of politics, global businessmen and cases in the US.

The latest development is that Bothli Trade AG, part of the DF Group, based out of British Virgin Islands has dragged the Andhra Pradesh Mineral Development Corporation (APMDC) to the High Court over the State Government’s decision to scrap its MoU with the Corporation on mine leases.

In October 2014, the AP Government decided that the proposal to allocate special mine areas in the coastal districts for mining to Bothli Trade ‘is not approved and hence withdrawn.’

Areas of contention

The Corporation and Bothli Trade had signed an MoU in 2006 to tap the rich heavy mineral sands deposits in Srikakulam, Vizianagaram and Visakhapatnam districts with large investments and production facilities. Mired in problems, the project never really took off.

As per the MoU, Bothli Trade was allocated mining areas in three stretches. These included, 1,284 hectares in Kuppili, Kotapalem and Mentada in Etcherla and Ranasthalam mandals of Srikakulam district; 1,050 hectares in Koyyam, Bouthala under Kodur in Vizianagaram district; and another 1,000 hectares in a contiguous stretch in the two districts.

Bothli and APMDC were to form a JV for a mining and mineral separation plant. An investment of about ₹4,500 crore was promised and the annual turnover after completion of the final stage of project was put at around ₹18,000 crore.

Deadline extended

Meanwhile the Corporation has extended the last date for global and Indian mining companies to submit their EOI for the new mining project it has proposed to June 19 from the present May 30 to facilitate adequate time for global players to participate. The pre-bid deadline has been fixed as June 3 from May 21.

The Corporation has invited bids for JV partnership to mine, produce value-added products and set up mineral separation plant from the heavy mineral sands through four leases in the areas of Kuppili, Kotapalem and Mentada in Srikakulam district.



Published on May 19, 2015

A letter from the Editor


Dear Readers,

The coronavirus crisis has changed the world completely in the last few months. All of us have been locked into our homes, economic activity has come to a near standstill. Everyone has been impacted.

Including your favourite business and financial newspaper. Our printing and distribution chains have been severely disrupted across the country, leaving readers without access to newspapers. Newspaper delivery agents have also been unable to service their customers because of multiple restrictions.

In these difficult times, we, at BusinessLine have been working continuously every day so that you are informed about all the developments – whether on the pandemic, on policy responses, or the impact on the world of business and finance. Our team has been working round the clock to keep track of developments so that you – the reader – gets accurate information and actionable insights so that you can protect your jobs, businesses, finances and investments.

We are trying our best to ensure the newspaper reaches your hands every day. We have also ensured that even if your paper is not delivered, you can access BusinessLine in the e-paper format – just as it appears in print. Our website and apps too, are updated every minute, so that you can access the information you want anywhere, anytime.

But all this comes at a heavy cost. As you are aware, the lockdowns have wiped out almost all our entire revenue stream. Sustaining our quality journalism has become extremely challenging. That we have managed so far is thanks to your support. I thank all our subscribers – print and digital – for your support.

I appeal to all or readers to help us navigate these challenging times and help sustain one of the truly independent and credible voices in the world of Indian journalism. Doing so is easy. You can help us enormously simply by subscribing to our digital or e-paper editions. We offer several affordable subscription plans for our website, which includes Portfolio, our investment advisory section that offers rich investment advice from our highly qualified, in-house Research Bureau, the only such team in the Indian newspaper industry.

A little help from you can make a huge difference to the cause of quality journalism!

Support Quality Journalism
This article is closed for comments.
Please Email the Editor
You have read 1 out of 3 free articles for this week. For full access, please subscribe and get unlimited access to all sections.