Lloyds Metals starts 10 million tonne iron ore slurry pipeline in Gadchiroli
Lloyds Metals and Energy Limited
(LMEL) made its 10 million tonne capacity pipeline that would transport iron ore in slurry form for a distance of 85km operational on Wednesday.
LMEL, which has its iron ore mine in the Maoist-affected district, is also coming up with an
integrated steel complex
in
Gadchiroli
. The slurry pipeline was much awaited as it can ease the burden on the district's internal roads.
It is reported to be the first-ever iron ore pipeline in western India, The iron ore fines will be minutely pulverised into powder and pushed through the pipeline from its mines at Surjagarh to its plant at Konsari village, over 85km away in the same district.
The company at present has an environmental clearance (EC) to extract 10 million tonnes of iron ore from the mines at Surjagarh. It has, however, submitted a proposal to get an EC for mining 25 million tonnes also. As the company hopes to get permission for enhanced mining in this financial year, at least 10 million tonnes would go through the pipeline, easing the burden on the road network to that extent, said sources part of the project.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
The Dark Truth Nobody Talks About!
Expertinspector
Click Here
Undo
On a daily basis, as much as 30,000 tonnes of iron ore is expected to be transported through the pipeline. The iron ore will then be used in the pellet-making plant at Konsari, which is expected to become operational by June this year, said sources part of the project. The company has plans to build three pellet plants in the district. With the first expected to start in June, work is at an advanced stage for the second.
Iron ore fines can be transported through the pipeline after a further grinding process. Later, the water is separated from the iron ore, which is used for pellet making, explained a source.
The company's future projects, as disclosed to the stock exchange last week, include a 190km slurry pipeline also. The survey work has been completed, and preliminary engineering has been completed. The process of getting the right of way is under way. This pipeline will start from Hedri near Surjagarh to Ghugus in Chandrapur via the Konsari plant. It will feed the steel plant at Konsari and the company's third pellet plant to come up at Ghugus.
The construction of the third pellet plant is expected to start in the fourth quarter of fiscal 2026. For the integrated steel plant, which is the ultimate plan of LMEL, the construction is expected to start before the first quarter of the financial year 2027, according to the disclosures made by the company. The total investment of the company in the district is pegged at over Rs 24,000 crore.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
18 minutes ago
- Economic Times
Monarch Surveyors IPO opens for subscription amid strong investor buzz; GMP at 64%
Monarch Surveyors and Engineering Consultants opened its Rs 94 crore IPO for subscription today, drawing strong investor attention with a grey market premium (GMP) of 64%. The IPO, which is entirely a fresh issue of 37.5 lakh equity shares, is priced in the band of Rs 237 to Rs 250 per share. ADVERTISEMENT The issue will close on July 24, with allotment expected on July 25 and listing scheduled for July 29 on the BSE SME platform. At the retail end, investors must apply for at least 1,200 shares (two lots), translating to a minimum investment of Rs 2.84 lakh. The IPO is being managed by Beeline Capital Advisors, with Bigshare Services acting as registrar. Spread X Securities is the market in Mumbai, Monarch Surveyors provides end-to-end civil engineering consultancy services across the infrastructure landscape — including roads, railways, ports, oil & gas, and urban transit offerings span surveying and mapping, geotechnical investigations, GIS-based land planning, engineering design, project reports, and bid process management. ADVERTISEMENT The company prides itself on precision, technical depth, and optimal resource utilisation — strengths that have helped it build a wide client base and execute high-stakes projects Surveyors has seen consistent financial growth, with revenue rising 10% year-on-year to Rs 155.66 crore in FY25, while profit after tax surged 16% to Rs 34.83 crore. ADVERTISEMENT The IPO proceeds are aimed at scaling operations. About Rs 32 crore will be used to fund capital expenditure for new machinery, Rs 30 crore for working capital needs, and the rest towards general corporate the grey market premium running at 64% over the upper band, the IPO has already generated strong investor appetite. ADVERTISEMENT (You can now subscribe to our ETMarkets WhatsApp channel)
India.com
18 minutes ago
- India.com
This Russian company operates 6,750 petrol pumps across India, now announces MAJOR plan to invest Rs 700000000000, the company is...
Nayara Energy, which is partly owned by the Russian oil company Rosneft, has announced a major investment of Rs. 70,000 crore in India. At the same time, the company has strongly criticized the new sanctions placed on it by the European Union (EU), calling them unfair and harmful to India's interests. These sanctions are part of the EU's 18th round of restrictions against Russia, introduced last week in response to the ongoing war in Ukraine. The main aim of these sanctions is to reduce the income Russia earns from oil and other exports. Nayara Energy is among the companies that have been targeted in this latest round. Nayara said that while many European countries continue to import Russian energy through various channels, the EU is punishing an Indian company that only processes Russian oil. Rosneft owns a 49.13 per cent stake in Nayara Energy, which was earlier known as Essar Oil Limited. In a statement on Monday, the company said it is actively exploring all legal options and that it will counter the EU's decision, which it claims undermines India's sovereignty and disregards global norms. Company runs a major oil refinery in Gujarat Nayara Energy operates a large oil refinery in Vadinar, Gujarat, with a capacity of 20 million tonnes per year. The company also runs over 6,750 petrol pumps across the country. A private investment group named Kesani Enterprises owns 49.13 per cent of Nayara. Kesani itself is backed by two Russian firms, United Capital Partners (UCP) and Hara Capital Sarl. Recently, there have also been reports suggesting that Rosneft may be planning to sell its stake in the refinery and exit the project.
Time of India
18 minutes ago
- Time of India
Gaming cos' talent rush; Eternal's mixed Q1 report
Gaming cos' talent rush; Eternal's mixed Q1 report Also in the letter: Talent winning out at Indian gaming companies as focus shifts to high-end titles What's happening? India's gaming industry is estimated to have 50,000–60,000 open roles across various experience levels, according to staffing firm TeamLease Digital. Studio heads say there's strong demand for gameplay engineers, backend developers, principal animators, 3D artists, and environment designers. Companies such as LightFury Games, SuperGaming and Nodding Heads Games are hiring aggressively across functions. Reverse brain drain: Big hurdles: AI's role: Eternal's Q1 net profit falls 90%, revenue up 70% on Blinkit surge Why it matters: Also Read: Key metrics: NOV for B2C businesses: Rs 20,183 crore, up 55% YoY Rs 20,183 crore, up 55% YoY Adjusted revenue: Rs 7,563 crore, up 67% Rs 7,563 crore, up 67% Quick commerce NOV: Rs 10,408 crore Rs 10,408 crore Food delivery NOV: Rs 9,774 crore What's new: Also Read: Market response: Zoom out: Also Read: Sponsor ETtech Top 5 & Morning Dispatch! Why it matters: The opportunity: Reach a highly engaged audience of decision-makers. Boost your brand's visibility among the tech-savvy community. Custom sponsorship options to align with your brand's goals. What's next: India's SaaS sector tops $15 billion in revenue as IPO pipeline builds Number-wise: The report analysed 250 companies with an annualised recurring revenue (ARR) of at least $10 million. 36 companies surpassed $100 million in ARR. The SaaS sector grew at a compound annual growth rate (CAGR) of 24% between FY19 and FY24. These companies are already profitable and ready for IPOs. The report highlighted a significant correction in the valuations of listed SaaS firms. Vertical SaaS ahead: Rare earths supply static at Foxconn unit What's happening: The earphones use dysprosium, a rare earth element now in short supply at the Foxconn Interconnect Technology factory near Hyderabad. Neodymium, another key component, is used for magnets and is also primarily mined in China. Both metals are essential for compact, high-performance electronics. Also Read: Flip side: Tell me more: The EUC proves who is receiving the goods and how they will be used. While Foxconn has obtained approvals from India's Ministry of External Affairs and the Chinese embassy, it is still awaiting clearance from Beijing. China's great wall: Also Read: Keeping Count Other Top Stories By Our Reporters All about agentic AI: Escape Plan raises funds: Global Picks We Are Reading Happy Tuesday! Indian gaming studios are increasingly seeking specialised talent. This and more in today's ETtech Morning Dispatch.■ Indian SaaS sector's growth■ Foxconn's rare earths woes■ Chatter grows around agentic AIAs Indian gaming studios double down on building ambitious, homegrown IPs—with bigger budgets, slicker visuals, and more intricate gameplay— the race for specialised talent is heating talent tide is also turning. SuperGaming has brought back over 25 professionals with stints at global studios like Ubisoft, while LightFury is wooing Indian talent with AAA experience from scaling a top-tier game studio in India remains a considerable challenge. It requires time, substantial capital, and hard-to-find expertise—particularly in console and PC gaming, industry executives told intelligence is helping bridge some gaps. Studios say it's cutting development time and costs. But even the best tools can't replace what truly matters: creative, collaborative teams building games that people want to Dhindsa, CEO, Blinkit and Deepinder Goyal, CEO, EternalEternal, the parent company of Zomato and Blinkit, saw its net profit tumble 90% year-on-year (YoY) to Rs 25 crore for the June quarter, despite a 70% jump in revenue to Rs 7,167 sharp decline is mainly due to increased expenditure on quick commerce and the company's expanding offline and 'going-out' the first time, Blinkit's net order value (NOV) overtook Zomato's food delivery business over an entire quarter. It is a telling shift in Eternal's growth story—quick commerce now accounts for more than half of its total is incorporating a new subsidiary, Blinkit Foods , at a time when it is expanding 10-minute food delivery through "Bistro" kitchens. It currently has 38 such kitchens in Delhi-NCR and Bengaluru, where they produce low-cost meals and snacks, aiming to reach customers within 10 Deepinder Goyal said Bistro's demand is solid and hasn't hurt Zomato orders, though turning a profit remains a work in progress. Shares rose over 7% intraday on the back of strong top-line momentum and Blinkit's growing scale. This also marks Eternal's 11th consecutive quarter of 50% or more adjusted revenue Blinkit and Swiggy's Bolt double down on ultra-fast food delivery, profitability remains out of reach. Eternal's earlier attempts—Zomato Everyday and Quick— failed due to unreliable infrastructure . The competition for quick food dominance continues—but no one has yet cracked the Top 5 and Morning Dispatch are must-reads for India's tech and business leaders, including startup founders, investors, policy makers, industry insiders and Reach out to us at spotlightpartner@ to explore sponsorship opportunities. India's software-as-a-service (SaaS) sector is expanding , with annual revenue exceeding $15 billion in fiscal year 2024, according to a report by JM SaaS companies, which provide broad, industry-neutral solutions, still constitute over half of the market. However, vertical SaaS companies, which develop software tailored to specific functions, are expanding at a faster pace, the report export curbs on rare earth metals are squeezing supplies at Foxconn's Telangana plant, slowing production of Apple AirPods, sources told isn't just crucial for gadgets. It also powers laser targeting systems and military-grade communications, which makes it sensitive from a regulatory has denied any production delays. However, sources said the company has turned to the Telangana government for help. The state has flagged the issue with the Department for Promotion of Industry and Internal Trade (DPIIT), as Foxconn awaits clearances to ship rare it requires an end-user certificate (EUC) attested by central added seven categories of rare earths, including dysprosium, to its export control list in April in response to US president Donald Trump's trade actions. Others on the list include: samarium, gadolinium, terbium, lutetium, scandium and yttrium-related AI, which refers to bots capable of autonomously handling tasks for users, is becoming a key focus in enterprises as they now observe clear use cases and returns on investment in AI, unlike just a few months ago, according to travel accessories platform Escape Plan has secured $5 million in funding, led by Jungle Ventures through First Cheque@Jungle and Fireside Ventures. The round also included participation from other angel investors.■ New UK AI audit standard aims to crack down on 'wild west' operators ( FT ■ Why the world should stop obsessing over LLMs ( Rest of World ■ Tech giants unleash AI on weather forecasts: are they any good? ( BBC
