Ministry of Steel
MOIL signed a draft JV agreement with MP State Mining Corporation
Posted On: 19 OCT 2024 7:07PM by PIB Delhi
MOIL has entered into a draft joint venture agreement with Madhya Pradesh State Mining Corporation Limited (MPSMCL), at MP Mining Conclave’24 in Bhopal. This collaboration aims to advance manganese ore mining and undertake value-addition projects in the state of Madhya Pradesh.
The formal signing ceremony took place in the esteemed presence of the Chief Minister of Madhya Pradesh, Dr. Mohan Yadav, Mr. Sanjay Shukla, Principal Secretary, Government of Madhya Pradesh, Shri Ajit Kumar Saxena, CMD MOIL, and Shri M. M. Abdulla, Director (Production and Planning) MOIL, alongside other distinguished dignitaries.
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.
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