Thursday, June 26, 2008

NAPC bags two iron ore mining projects in Thailand

Chennai-based National Asphalt Products and Construction Company (NAPC) has bagged two iron ore mining projects in Thailand. The contract value of the projects estimated to be around $110 million and for a period of 10 years. Both projects will be executed with a joint venture partner. The company is also planning to invest Rs 1,400 crore in the next two to three years on various infrastructure related projects.

Speaking to reporters in Chennai Varun Manian, director, NAPC,said that the company has also signed a manganese ore mine project in Laos, Cambodia. The project worth is about Rs 60 crore. "Initially we are expecting Rs 110 crore revenue every year from the iron ore project in Thailand and Rs 30 crore from manganese ore project in Cambodia."

In Thailand, the two mines are located in Wang Pong and Pa Tong spread over 5000 acres and 2000 acres respectively. When the project starts it will create 1000 jobs for the local Thai population, besides providing off shore works to around 80 NAPC engineers, said Manian.

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