Excelsior Correspondent
SRINAGAR, Oct 20: Minister of State for Industries and Commerce Sajjad Ahmad Kichloo today stressed the need for accelerating the pace of process on proposed mega Sapphire project under Joint Venture mode in Padder area of Kishtwar district.
The minister was addressing a special meeting of Board of Directors of Jammu and Kashmir Minerals convened here today to review and discuss joint venture structuring option report submitted by Transaction Advisor regarding the project.
Financial Commissioner, Industries and Commerce Khurshid Ahmed Ganai were present in the meeting.
The meeting discussed threadbare various aspects of the report and decided to constitute a subcommittee for ascertaining technicalities of the project . The meeting also decided to hold another meeting of Board of Directors on 27th of this month.
The Managing Director Jammu and Kashmir Minerals Limited Abid Suhail gave detailed report of the project especially regarding Bidders and Lease period. He also informed the meeting that J&K Minerals Lts. has already appointed Mazars Advisory Pvt. Ltd as Transaction Advisory for assisting JK Minerals in carrying out the bid process management for selection of Joint Venture Partner for survey, exploration, evaluation and subsequent exploitation and marketing of sapphire / corundum and other precious stone in Padder area of district Kishtwar.
Among others Director General Budgets, Accounts and Treasuries, Director Zology and Mining and other senior officers were present in the meeting.
Trending Now
E-Paper
Follow our WhatsApp channel