India’s JSW Steel has incorporated a new joint venture company, APJSW Private Limited, in partnership with the Andhra Pradesh Mineral Development Corporation (APMDC), to develop the Konijedu Marlapadu Integrated Iron Ore Project in Andhra Pradesh.
Under the arrangement, JSW Steel holds 89pct equity, while APMDC retains 11pct as free ride equity. The project will focus on mining and beneficiating low-grade iron ore, with an annual capacity of 1.3 mln tons of iron ore concentrate.
JSW Steel said the initiative will help reduce reliance on imported ore and lower costs by securing locally beneficiated supply.
