Metso Minerals bags orders in India worth Rs 117 crore from JSW Steel and BMM Ispat

Company Brief

Mumbai, June 11, 2008

Metso Minerals, a leading global supplier of equipment, service and process solutions for rock and minerals processing, today announced the bagging of two new orders —one worth Rs 72.5 crore (EUR 11 million) for supply of an iron ore induration machine to JSW Steel Ltd. and another order of Rs 44.5 crore (EUR 6.75 million) for supply of equipment and basic engineering to Bharat Mines and Minerals (BMM) Ispat, respectively.

The iron ore induration machine will be delivered to JSW Steel Ltd. for its plant in Vijayanager, (Toranagallu) in the Bellary district of Karnataka. The order comprises a 464 square meter induration machine with 177 pellet cars with a feed rate of approx. 375 tonnes per hour of iron ore pellets.

The supply of equipment and basic engineering to BMM Ispat will be to beneficiate iron ore fines through gravity separation and high gradient magnetic separation at its plant site at Danapur, Hospet-Bellary in Karnataka. The plant is designed to treat 250 tph of -10 mm of iron ore fines that is produced in a Crushing and Screening Plant and then fed to Open Stockpile for Storage and Buffer.

Speaking on the twin orders, Andrew Lewis, Senior Vice President, Mining Business Line, Metso Minerals India, said, “We are proud to receive these prestigious orders from JSW and BMM Ispat and we are delighted to be associated with them. These orders reinforce our capabilities as a leader in this sector. Client requirements are moving towards more technologically efficient solutions. Metso Minerals aims to respond to their needs by strengthening its presence, capabilities and capacity to supply in India and provide optimal service solutions.”

Mr Pawan Kedia, Group President (Commercial), JSW Steel, said, “With the iron ore induration machine supplied by Metso Minerals, we hope to add the new edge technology to our capacity. This is a repeat order we have placed on Metso Minerals for similar technology that we bought almost 8 yeas back. The addition of Metso to our growing list of global suppliers strongly positions us for a sustained growth of our business in a competitive market.”

Mr Dinesh Singhi, Managing Director & CEO, BMM Ispat Ltd, said, “This is our repeat order for a similar plant supplied by Metso Minerals in 2007 which has been successfully commissioned. With these plants by Metso, BMM Ispat capacity goes upto 3 mtpa and we aim to strengthen our position as a steel player and grow further.”

Metso Minerals recently also won a Rs 112-crore order from Essar Steel Ltd for an iron induration machine. The company last year announced the expansion of its office premises and manufacturing and foundry capacities in India with a combined investment of EUR 12.5 million. Metso is also investing approximately EUR 30 million in India to set up "Metso Park", a multi-functional industrial facility in Alwar, Rajasthan.

For further information for press, please contact:

Dinesh Sharda

Metso Minerals

Ph: +91 9811085122

Email: dinesh.sharda@metso.com

Rupa Kannan

Comma Consulting

Ph: +91 9819534461

Email: rkannan@comma.in