In a release here, it said that only 935 tonnes of sand worth about ₹ 37 lakh has been imported and sales have just started. The requirement of 180 lakh tonnes over the next five years would have a turnover of ₹ 7,000 crore, which would amount to turnover and not misappropriation. “In Kerala, we have come to know through reliable sources that they have imported river sand and it is sold loose at ₹ 2,500 per tonne at the port,” it added. The cost of river sand cannot be compared with that of M-sand, it said. Further, on Mr. Shettar’s charge about the address of company, MSIL has said that the company is registered in free trading zone of UAE.

Source: The Hindu January 24, 2018 19:17 UTC