Hyderabad, November 10: The Andhra Pradesh government and the National Mineral Development Corporation have decided to take up joint exploration of iron ore and gold reserves in the state, Union Minister of State for Steel A Sai Pratap said.
A memorandum of understanding in this regard will be signed very soon, Pratap said.
After a meeting with Chief Minister K Rosaiah here today, Pratap told reporters that the AP government and the NMDC would bear 50 per cent of the cost each for the exploration work.
Exploration of gold reserves would resume at Chigurugunta in Chittoor district. Exploration work here was abandoned many years ago, he said.
The NMDC would set up its own steel plant in Andhra Pradesh if the iron ore reserves were above 100 million tonnes, the Union Minister said.
Prime Minister Manmohan Singh might soon lay the foundation-stone for the ferro-alloy plant at Bobbili in Vizianagaram district, he said.
–Agencies