Indian state-owned Rail Vikas Nigam limited (RVNL) has received a $317 million contract from Indian miner NMDC limited to develop and construct an iron ore buffer stockpile and blending plant in the southern port city of Visakhapatnam, according to company regulatory filings on Tuesday, June 23.
According to the application, the project involves the creation of buffer stockpiles and a blending facility with capacity of 10 million tons per year. The facility is expected to strengthen NMDC limited's logistics and materials management capabilities at Visakhapatnam Port.
The project is expected to be completed within 42 months from the date of award. Once operational, the facility is expected to improve the processing, storage and movement of iron ore and other raw materials, improving supply chain efficiency.
According to NMDC limited, buffer warehouses and blenders play a critical role in mining, helping companies manage inventories and maintain consistent quality of raw materials supplied to customers.
