Koneru Prasad's Trimex inks MoUs worth Rs 2,500 crore with Andhra Pradesh

VISAKHAPATNAM: Heavy minerals miner Trimex (Koneru Prasad - Chairman) has signed two Memoranda of Understanding (MoUs) with Andhra Pradesh to develop mining projects at Bhavanapadu and Kalingapatnam in the state.

"The projects involve an estimated investment of Rs 2,500 crore and will generate 5,500 direct and indirect jobs," it said in a statement.

Bhavanapadu beach sand heavy minerals project will be executed by Trimex Heavy Minerals Pvt Ltd (THMPL), while the Kalingapatnam project will operate under the aegis of Trimex Ores Pvt Ltd (TOPL), it added.

The MoU was signed between Andhra Pradesh Chief Minister Chandrababu Naidu and Trimex Group MD Pradeep Koneru at the first Sunrise AP Investment Meet being held here.

Koneru said the state government has given in-principle approval for the grant of mining lease for beach sand minerals like Ilmenite, Rutile, zircon, garnet and sillimanite over an extent of 17.88 square kilometres.

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