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MOIL signs JV agreement with MP State Mining Corpn.

Monday, 21 Oct 2024
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Manganese Ore (India) (MOIL) has signed a draft joint venture agreement with Madhya Pradesh State Mining Corporation (MPSMCL), at MP Mining Conclave’24 in Bhopal. This collaboration aims at advancement of manganese ore mining and for undertaking value-addition projects in the state.

The formal signing ceremony took place in the presence of the Chief Minister of Madhya Pradesh, Dr. Mohan Yadav, Principal Secretary, Government of Madhya Pradesh, Sanjay Shukla, and MOIL management personnel alongside other dignitaries.

As per the agreement, a JV company will be formed between MOIL and MPSMCL with a shareholding of 51 percent of MOIL and 49 percent of MPSMCL. This partnership is expected to harness the manganese ore reserves in Madhya Pradesh.

The move will drive economic growth and open up employment opportunities in the region, aligned to the vision of Atma Nirbhar Bharat.

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