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 Tata Steel Limited and the members of
the Al Bahja Group, a leading business house of Oman
have entered into a Joint Venture Agreement (JVA) for
the development of the Uyun Limestone deposits at
Salalah in the Sultanate of Oman.
The JV Agreement was signed by Mr.
Ajit Hamlai, Chairman, Al Bhaja Group and Mr. B
Muthuraman, Managing Director, Tata Steel in the
presence of H E The Ambassador of India to the Sultanate
of Oman, Mr. Anil Wadhwa, Mr. A D Baijal, Group Director
(Global Minerals), Tata Steel, and other officials of
the Al Bahja Group and Tata Steel. Tata Steel will be
holding 70% stake in the existing Company named AL Rimal
Mining LLC through its subsidiary, TS Global Minerals
Holdings Pte Ltd. Al Rimal Mining LLC will execute the
project of developing and operating the Uyun Mine.
Mr. Ajit Hamlai, Chairman, Al Bahja
Group mentioned "The Al Bahja Group is proud to have
joined hands with Tata Steel as its partner for this
Limestone project. It is one of the major steps towards
strengthening the country's mineral resource base and
opening new opportunities for the people of Oman. We are
confident that Tata Steel's technical excellence and the
rich experience shall take this project to its
successful implementation. Tata Steel is also well known
for its CSR (Corporate Social Responsibility)
initiatives, which provides opportunities to the people
to explore their talents and strengthen community based
institutions".
Mr. B Muthuraman, Managing Director,
Tata Steel said, "Tata Steel is pleased to have
signed this Agreement. Tata Steel has nearly 100 years
of extensive experience of exploration, modelling,
designing and operation of both underground and open
cast mines. Tata Steel will continue with its policy of
introducing best practices for mining, as well as for
management of the environment in the development of the
Uyun Limestone Mine in Oman. We value our partnership
with the Al Bahja Group, and we are sure that this
partnership will play a significant role in the mineral
development of the Sultanate of Oman. These investments
in mining are the foundations towards achieving Tata
Steel's vision of becoming a global benchmark in Value
Creation, Corporate Social Responsibility, Environmental
Protection and Safety through passionate, talented and
motivated employees.
The initial phase will involve
exploration and detailed feasibility studies. The
project envisages mining of limestone in the Uyun region
which lies in the Salalah province of Oman and has large
deposits of limestone.
About Tata Steel
Established in 1907 as Asia's first
integrated private sector steel company, Tata Steel,
with the recent acquisition of Corus in 2007 is the
world's sixth largest steel producer. The Tata Steel
Group, as a combined entity, has geographic footprints
in India, South East Asia, UK and Europe with an
aggregate crude steel production capacity of around 28
million tonnes having approximately 82,700 employees
across the four continents.
Tata Steel's mines, collieries and
Jamshedpur works are ISO 14001 certified for environment
management. The company's Jamshedpur steel works along
with its Ferro Alloys and Minerals Division, have been
conferred the SA 8000 certification for work conditions
and improvements in the workplace - the first in the
world. Tata Steel which has also set benchmarks in the
fields of corporate social responsibility and corporate
governance firmly believes in improving the quality of
life of its employees and the communities it serves.
About Al Rimal Mining LLC
Al Rimal Mining LLC, a group company
of the Al Bahja Group of Oman, which enjoys good
reputation in the business circles of Oman and has
presence in Agriculture, FMCG, Copper, Real Estate,
Hotels & Resorts, Pharmaceuticals and Alternative Energy
Solutions in Oman. For further information, please visit
www.albahja.com.
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