The company has beneficiation plant integrated with the pellet plant.
National Company Law Tribunal (NCLT) has invited application with its order dated 9th may 2018 for corporate Insolvency resolution process of Pro-Minerals Private Ltd. (PMPL) under the Insolvency and Bankruptcy act, 2016 (IBC).
The company was incorporated under Companies Act, 1956 and came into existence from 21-Sep-2010 with 1 MnTpa Iron Ore beneficiation plant integrated with 1 MnT pa Pellet Plant. PMPL is a joint venture company between – Hari Machines Limited (a leading company engaged in Heavy Engineering & belongs to reputed Dalmia group and Jyotirmoyee International Pvt. Limited. PMPL is fully integrated Pellet Plant at Basantpur, Keonjhar (Odisha).
It’s a Germany technology for a feed of 0-30mm and products for DRI, Sinter and Pellet feed, in which re-use & recycle of the process water is envisaged in order to achieve Zero Effluent Discharge. Circular Pelletizing Technology (CPT) of Primetals Technology Austria GmbH (formerly Siemens VAI Metals Technologies GmbH, Austria).
It’s low-grade Iron ore beneficiation plant nearby Joda and Koira sector (Odisha).
The CoC (Committee of creditors) with help of resolution professional identify resolution applicant. Under section 25(2) h of IBC, resolution plan for PMPL will be according to the provision of IBC and fulfillment of criteria set by the CoC.
Last date for the submission of application on and before 7th August 2018.
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