Deals23 Jul 2025, 11:45 am
Kirloskar Ferrous Industries Declared Preferred Bidder for Jambunatha Iron Ore Mine
AI Summary
Kirloskar Ferrous Industries Limited (KFIL), a listed material subsidiary of Kirloskar Industries Ltd, has been declared as the preferred bidder by the Government of Karnataka for the Jambunatha Iron Ore Mine. The declaration follows an electronic auction conducted on 27th January 2025, where KFIL submitted the highest final price offer. The grant of the mining lease is subject to making necessary payments, completing other terms and conditions of the Tender Document, obtaining necessary approvals/permissions/clearances from various Government Departments/Agencies, and executing necessary agreements/deeds.
Key Highlights
- Kirloskar Ferrous Industries Limited (KFIL) declared preferred bidder for Jambunatha Iron Ore Mine
- Declaration follows electronic auction conducted on 27th January 2025
- KFIL submitted highest final price offer
- Grant of mining lease subject to necessary payments, approvals, and executing necessary agreements
- Government of Karnataka's 'Notification and Notice Inviting Tender' dated 3 October 2024