MOIL enters draft JV agreement with MP State Mining Corporation

New Delhi: State-owned MOIL enters 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.

Read Also : One day to go: India to Auction Offshore Mineral Blocks

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 Also : Defence Partnership Days: 28-29 November 2024, Read about it