Euro Group to set up pelletisation project

Mumbai: Euro Group, one of the largest vitrified tiles manufacturers in India, has signed an MoU with the Madhya Pradesh government to set up a Rs 1,100-crore 2 million tonnes pelletisation project for conversion of low grade iron ore into high grade.

The public-private partnership project is expected to be completed by 2011. The project will be funded by internal accruals and debt. Low grade iron ore is unutilised in India and requires benefication and the pelletisation technology to convert into high grade.

Euro Group has interests in vitrified tiles, aluminium extruded sections, aluminium composite panels, agglomerated marble, plywood, veneer, laminate, dry battery cell and compact discs.