MoU signed between IDCOL, IREL for Beach Sand Minerals Project

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Bhubaneswar, Feb 07: In a significant development, a MoU has been signed between Infrastructure Development Company Limited (IDCOL) and Indian Rare Earths Limited (IREL) in Odisha for a project to explore the mineral from the sea sand and separation of the minerals.

According to experts in sea science, over 100 million tonne sea minerals are available in 470 km-long Odisha cost. With the joint venture by the IDCOL and IREL, an industry will be set up to carry out the Rs 450 crore-project at the sea beaches in the state.

The project, which may create job opportunity for 400 people, will be completed by two years. While IDCOL will have 49% share, 51% share will be held by the IREL in the project.

IREL is a corporation owned by the central government. It carries out research on beach sand minerals, undertakes consultancy projects on mineral separation and flow sheet development.

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