Lloyds Metals and Energy, represented by its Managing Director B Prabhakaran, has signed a non-binding MoU with Tata Steel, represented by CEO and MD T V Narendran, to explore a strategic partnership.

The collaboration aims to leverage the natural synergies between the two companies in raw material mining, logistics, pellet making, and steel production. Under the MoU, both companies will evaluate cooperation in greenfield steelmaking projects, iron ore mining, slurry pipeline infrastructure, and the production of low-carbon iron and steel products. The focus is on promoting sustainable growth in the Indian steel sector. A key area of exploration is Gadchiroli district in Maharashtra, where they aim to increase iron ore production and develop the region as a major steel hub.

Both companies also plan to assess Tata Steel's involvement in existing steel projects by Lloyds Metals. "This partnership will combine our strengths to drive efficiency and sustainability in the industry," said Prabhakaran.