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 moU, a JV company will be set up between MoIL and MPSMCL in which MoIL will hold 51 per cent stake and MPS MCL will hold 49 per cent stake. This strategic partnership between MoIL and MPSMCL is expected to harness the rich manganese mineral reserves of Madhya Pradesh, accelerate economic growth and create many job opportunities in the region, which will be in sync with the vision of Aatma Nirbhar Bhar. read more
