BWI: Andhra CM Dr K Rosaiah Inaugurates Srikurmam Mineral Sands

Press release from Business Wire India
Source: Trimex Group
Saturday, June 26, 2010 09:10 PM IST (03:40 PM GMT)
Editors: General: Economy, Environment, People, Social issues; Business: Advertising, PR & marketing, Chemicals, Commodities & materials, Energy companies, Financial Analyst, Heavy industries, Major diversified industrial groups, Mining companies, Real estate; Technology
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Andhra CM Dr K Rosaiah Inaugurates Srikurmam Mineral Sands
. Commercial production, shipment of industrial minerals commences. . Srikurmam project among Asia's largest, finest for multiple minerals. . Marks the successful completion of project's initial INR 250 crore first phase. . Custom-built, modern facility for producing Ilmenite, Zircon, Garnet, Rutile, Sillimanite. . Environment sustainability, transparent stakeholder involvement key project highlights. . Trimex to strengthen position in a sector with significant global supply-side deficit. . INR 250 crore initial investment to be followed by INR 4000 crore investments until FY18.

Vishakhapatnam and Andhra Pradesh, India, Saturday, June 26, 2010 -- (Business Wire India) -- Hon'ble Chief Minister of Andhra Pradesh Dr K Rosaiah, today inaugurated the Srikurmam Mineral Sands project, an integrated complex for the extraction and separation of heavy mineral rich beach sands to produce multiple heavy minerals. The Srikurmam project is an initiative of the Trimex Group, India's top specialty value chain provider of industrial minerals for the global markets.

Located at Vatchavalasa Village near Srikakulam town in Andhra Pradesh, the world class, custom-built, Srikurmam complex, is at the cutting edge of extraction, processing, and enviro-sustainability technologies. In terms of capacity and quality. Srikurmam is among Asia's largest and finest producers of Ilmenite--200,000 TPA; Zircon-6,000 TPA; Garnet-60,000 TPA; Sillimanite-50,000 TPA; Rutlile-6,000 TPA.

The products are used in the manufacture of paints, ceramics, abrasives, insulation, cosmetics, paper, leather, glass products, artificial gems, aircraft parts, artificial human joints, and filtration media, among others.

The company has acquired the mining lease for 7.2 square kilometers in the coastline of Srikakulam for 30 years from the date of the lease award, renewable for another 30 years.

Today's inauguration by Dr Rosaiah marks the successful completion of the first phase of the Srikurmam project-pilot studies; bulk samples; extensive hydrology; extensive environmental, social and public perception studies; complete detailed engineering; and the finalization of the mining license agreement with the government and private land owners.

The INR 250 crore investment in the first phase will be followed by INR 4000 crore investments in multiple phases, until FY2017-18, for the expansion of extraction areas, increase of processing capacity, technology upgradation, and research and development of high value and premium products.

Comment by Dr K Rosaiah, Hon'ble Chief Minister of Andhra Pradesh

The Srikurmam project represents a major milestone for the development of rich natural resources that Andhra Pradesh is endowed with, said Dr K Rosaiah, Hon'ble Chief Minister of Andhra Pradesh. "Srikurmam will play a pivotal role in helping to meet the demand for high quality heavy minerals in the supply-deficit global market. I congratulate Trimex for being extremely serious about of its responsibilities as a corporate citizen. The integration of environment sustainability and transparent involvement of all stakeholders makes Srikurmam a role model for sustainable socio-economic development not just for our state but for the rest of India as well," Dr Rosaiah said.

Comment from Prasad Koneru, Chairman, Trimex Group

Trimex Group Chairman Prasad Koneru said that the project has already generated significant opportunities in the region. "The Srikurmam project demonstrates that environmental sustainability, land conservation, and fast economic growth can coexist. We believe that the Trimex group has established an important enviro-economic precedent for mineral extraction projects. I am confident this project will make a sustainable economic and social contribution to the region," Prasad Koneru said.

Comment from Pradeep Koneru, Executive Director, Trimex Group

Trimex Group Executive Director Pradeep Koneru said that the Srikurmam project is an important milestone for the group and the minerals extraction industry.

"Our mission is to be among the world's largest producers of top quality industrial heavy minerals. We are confident that our fully-integrated multi-mineral separation and processing complex has few equals even among global peers in terms of ambition and quality," Pradeep Koneru said.

"Very hearteningly, all this has been achieved with the transparent and proactive involvement of multiple stakeholders. All the necessary Central and State government clearances and approvals have been received. The project has in place an ongoing reclamation plan, re-contouring of the land to its original shape, including dunes, and management of groundwater resources. The minimum acreage of land is actively mined at any given moment with no use of harmful chemicals and, most importantly, land is merely rented from the landowners and goes back to them after the extraction process is complete," Pradeep Koneru added.

About Trimex Group

India's top specialty value chain provider for industrial minerals, the Trimex Group is a minerals business house with interests in extraction, sourcing, procurement, delivery, and R&D. Trimex delivers products such as barite, bentonite, iron ore, feldspar, bauxite, ilmenite, ball clay, and kaolin, among
others, to the world's leading oil drilling, ceramic, glass, construction, energy, steel, and fertilizer companies.

Founded in 1985 by Prasad Koneru, a veteran of the Indian minerals industry, Trimex's global delivery network includes offices in India, Indonesia, Singapore, and the United Arab Emirates. Production operations are conducted from multiple locations in the CIS, Africa, and West Asia.



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