By Our Correspondent
BHUBANESWAR/DHENKANAL/KOIRA: MGM Minerals Limited owned by leading Odia Mines Owner and Industrialists, Pankaj Lochan Mohanty, who happens to be the President of Odisha Cricket Association, is converting its 350 -Tonne Sponge Iron and a 4-megawatt power plant at Nimidha in Dhenkanal in the State into a Mini-Steel Plant, employing 1,000 people directly to produce 40.25 million tonnes of steel TMT rods and wire rods.
MGM Minerals Limited Chairman, PL Mohanty in an interview to leading Odia daily, The Sambad, as part Sambad’s Brands of Odisha Pride of India campaign, said that the company producing 1.5 million tonnes of iron ore mines annually and has been given a 6-star rating by the Indian Bureau of Mines. MGM Minerals Limited has plans to set up a 10 MW solar power project and a garment factory recruiting more than 1,000 women. The company will also set up a new unit at Bhadrak Weaving Park along an ethanol factory in Boudh district, the home district of the company Chairman, Mohanty.
The proposed expansion of its project by setting up 0.125 MTPA Sponge Iron Plant, 0.6 MTPA Pellet Plant, 0.25 MTPA MS Billets, 0.25 MTPA TMT , Wire Rods, and 40 MW Captive Power Plant at Nimdha in Odisha’s coal bearing Dhenkanal, with an investment of Rs. 801.89 Crore, MGM Mineral Limited, is likely to create around 1300 jobs.
The expansion proposal had already been cleared by the 94th State Level Single Window Clearance Authority (SLSWCA) in October 2020, and works also been started. The Company had set up an integrated steel plant in Dhenkanal district having a capacity of 0.25 million tonnes per annum and now expanding its capaciy and MGM Group has Iron Ore blocks under Joda-Koira mining circles of Odisha’s mineral rich Sundarharh and Keonjhar.
MGM Minerals Limited is the title sponsor of the Odisha T20 Cricket League. It is being organised by the Odisha Cricket Association in collaboration with the Twenty First Century Media (TCM). The Company has set up MGM Chair Professor in Mining and Metal Engineering at IIT Bhubaneswar and has been a regular contributor to Chief Minister’s Relief Fund (CMRF). The Company is also planning to come up with a cardiac and Neuro Hospital near Bhubaneswar.
