Uranium Corporation of India, Karnataka govt sign MoU

BANGALORE: The state government has inked a memorandum of understanding (MoU) with Uranium Corporation of India Ltd (UCIL) to establish a uranium ore mining and processing plant in the state.

UCIL recommended Rs 550-crore investment in the plant at Gogi, Saidapur, Diggi and Umardoddi villages at Shahapur taluk of Karnataka's Yadgir district.

Moreover, the state government would be helping UCIL to get approvals, registrations and nods from the concerned departments according to the current policies and also norms of the state government.

The project was likely to start next year and will offer employment opportunities to 361 persons.

The agreement has been inked here during the Global Investor's Meet 2012, which was held recently.