The Chennai-based Rs 4.4billion Rajathi group, an exporter of agricultural commodities for the past three decades, is now attempting to become a large-scale iron ore exporter. The company is planning to acquire an iron ore mine near Hospet in Karnataka for this purpose.
“We are currently negotiating with an iron company for its acquisition and the deal is expected to be concluded by the end of this month," group's managing director, M Rajesh, told Business Standard.
According to Mr Rajesh, the constant urge to see new frontiers and a matured agro-market led the Rajathi group to enter into iron ore exports and capitalise on the surge in the international demand of iron ore. So far, it has exported close to 500,000 tonnes of iron ore.
The recipient of the largest agro commodity export award from the Union government in 1997, the Rajathi group is also planning to double its exports of farm products in the current year.
Source: Business Standard
No comments:
Post a Comment