Uranium Corp to invest Rs.2,450 crore in Andhra, Karnataka

July 28th, 2011 - 12:03 am ICT by IANS  

Kolkata, July 27 (IANS) The Uranium Corporation of India Ltd (UCIL) will invest about Rs.2,450 crore during the 12th Five Year Plan period in new mine projects in Andra Pradesh and Karnataka, a top company official said Wednesday.

“Investment for two phases of Tummalapalle mine in Andhra Pradesh will be close to Rs.1,900 crore. Investment for a new mine in Karnataka will be Rs.550 crore,” UCIL director (technical) D. Acharya told reporters here.

“Exploration work is on in an uranium mine in Andhra and it is also expected that the mine may have 1.5 lakh tonnes of reserve,” UCIL chairman and managing director R.Gupta said.

The project was expected to begin trial production from October this year and commercial production from January 2012, he said.

The first phase of the project would have a capacity of 3,000 tonnes per day which would go up gradually, Acharya said, adding the second phase would have a capacity of 1500 tonnes per day.

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