SAIL to appoint developer for 2 of its biggest mines.

In a first, the Steel Authority of India Ltd. (SAIL) has decided to outsource the development of two of its biggest iron-ore mine reserves Chiria in Jharkhand and Rowghat in Chhattisgarh. The public-sector company plans to invest Rs. 10,000 crore for developing the two.

Chiria is estimated to have 1.84 billion tonnes of ore, to be developed in two phases: Seven million tonnes initially and eight million tonnes in the second. Once the developer is decided, a mine would take three to four years to become operational.

BS