KIOCL has signed an agreement with the Karnataka government for setting up a beneficiation plant and a pelletisation unit in Bellary district in the state.

Kudremukh Iron Ore Company Ltd (KIOCL) said in a statement that the iron ore beneficiation plant will have a capacity of four million tonnes per annum (MTPA) and the pelletisation unit will have a capacity of two MTPA.

Malay Chatterjee, KIOCL Chairman-cum-Managing Director said that the company has internal strength for development of mines and setting up of plants and the proposed project will generate employment opportunity for locals.

Read EquityPandit’s Technical Analysis of Indian Stock Market