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| Govt to set up Magnesite Plant in Reasi district | | | EARLY TIMES REPORT
Jammu, May 29
Jammu and Kashmir will set up a Magnesite Plant at a cost of Rs 150 crore in Reasi district of the state. A Magnesite Plant is being set up in joint venture at Panthal area of Reasi district with a project cost of Rs 150 crores, officials of the Industries Ministry said. The project with a capacity of 100 tones per day of Magnesite is being set in joint venture with National Mineral Development Corporation (NMDC), they said. Giving further details, they said that Detailed Project Report (DPR) and Diligency Report of the project stand prepared and project shall come up in a debit equity ratio of 60:40. Five packages have been prepared for allotment of work in realisation of Magnesite project and necessary action relating to extraction of raw magnesite is being taken up, they said. As per the programme, the plant will be ready of the commercial production in two years time from the date of the commencement of the construction at the project site, they said. The project will also provide wide employment opportunities to locals in the area.
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