Bhubhaneshwar (Odisha), July 7
IDCOL (Industrial Development Corporation of Odisha Ltd), which had floated a tender for sale of 25,000 MT low grade (Fe 55%) Iron ore fines from its Roida C Iron & Manganese mine at Roida, Keonjhar (Odisha), has received bids from three companies namely
1. NK Bhojani, Barbil based Sponge iron unit
2. Hardev Steels, Cuttack based processing unit
3. SSAB Energy, Barbil based processing unit
The tender closed on 5 Jul, 2014 and was invited on ‘As is Where is’ and ‘No Complaint’ basis. Sources close to this tender stated that H1 bid was received at about INR 531/MT (USD 9/MT) on Ex-Mines basis, excluding royalty (which is about INR 240/MT). IDCOL is yet to award this tender.
The management of IDCOL is not bound to accept the H1 price. It reserves its right to negotiate with the highest bidder (H1), if required, according to tender document published by the company.
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