MoIL has signed a draft JV agreement with Madhya Pradesh State Mining Corporation
MoIL has signed a joint venture agreement with Madhya Pradesh State Mining Corporation Limited (MPSMCL) at the MP Mining Conclave-24 in Bhopal. The purpose of this collaboration is to take up manganese mining in the state of Madhya Pradesh and take up value addition projects.
The formal signing ceremony was held in the presence of several dignitaries including Madhya Pradesh Chief Minister Dr Mohan Yadav, Sanjay Shukla, MoIL CMD Ajit Kumar Saxena and MoIL Director (Production and Planning) M M Abdullah।
As per the agreement, a JV Company will be formed between MOIL and MPSMCL with a shareholding of 51% of MOIL and 49% of MPSMCL. This strategic partnership between MOIL and MPSMCL is expected to harness the rich manganese ore reserves in Madhya Pradesh, driving economic growth and creating numerous employment opportunities in the region, aligning with the vision of Atma Nirbhar Bharat . read more
