Tata Steel inks deal with Al Bahja Group

Wednesday, 16 January 2008, 20:30 IST
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Kolkata: Tata Steel and Al Bahja Group, a leading business house in Oman, Wednesday entered into a joint venture agreement (JVA) to develop Uyun Limestone deposits at Salalah in the Sultanate of Oman. The JVA was signed by Ajit Hamlai, chairman, Al Bhaja Group and B. Muthuraman, managing director, Tata Steel in the presence of Ambassador of India to the Sultanate of Oman Anil Wadhwa, A.D. Baijal, group director, global minerals, Tata Steel, and other officials of the Al Bahja Group, a company release here said. Tata Steel will hold 70 percent stake in the existing company named AL Rimal Mining LLC through its subsidiary, TS Global Minerals Holdings Pte Ltd. Al Rimal Mining will execute the project of developing and operating the Uyun Mine. "Tata Steel will continue with its policy of introducing best practices for mining, as well as for management of the environment in the development of the Uyun Limestone Mine in Oman. We value our partnership with the Al Bahja Group, and we are sure that this partnership will play a significant role in the mineral development of the Sultanate of Oman," Muthuraman said. The initial phase will involve exploration and detailed feasibility studies. The project envisages mining of limestone in the Uyun region, which lies in the Salalah province of Oman and has large deposits of limestone. Ajit Hamlai, chairman, Al Bahja Group, said: "The Al Bahja Group is proud to have joined hands with Tata Steel as its partner for this limestone project. It is one of the major steps towards strengthening the country's mineral resource base and opening new opportunities for the people of Oman. We are confident that Tata Steel's technical excellence and the rich experience shall take this project to its successful implementation."
Source: IANS
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