Gallantt Ispat secures 2 iron ore mines in Sonbhadra
Gorakhpur: Gorakhpur-based Gallantt Ispat Ltd has been allotted two iron ore mines in Sonbhadra district through aN auction process at premium rates of 93.91% and 125.51%, respectively, media manager Deepak Sharma informed.
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The allocation is expected to generate revenue of approximately Rs 6,000 crore for the Uttar Pradesh govt in the coming years, while also creating significant employment opportunities in the mining sector across Sonbhadra.
Gallantt Group CEO Mayank Agrawal said that the mines will ensure direct access to nearly 50 million tonnes of iron ore, drastically reducing the company's dependence on external raw material suppliers. "This backward integration will allow us to transport raw materials directly to our plant, lowering production costs and enhancing efficiency," he said.
"For the first time, iron ore has been made available in the state. This development will significantly strengthen our production capacity and financial performance," said Group CMD Chandra Prakash Agrawal.
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