Kolkata based McNally Bharat Engineering (MBECL) is planning to induct a minority partner in its South Africa based arm MBE Minerals SA Pty to foray into sub-Saharan Africa. MBECL holds 74 per cent stake in MBE minerals through its Singapore based holding company.

MBE Minerals was earlier part of KSD Humboldt Wedag of Germany and it came under MBECL following the acquisition of the German company by MBECL in 2009.

According to sources, the present local minority investor - Khusela Womens Investment is likely to exit MBE Minerals. The new South Africa based partner is to represent black empowerment and help MBE participate in tenders floated by the local government agencies or the government-aided organisations.

Initially, MBE plans to focus on southern part of the continent in countries such as South Africa, Zambia and Zimbabwe in the support activity for copper, coal, iron and zinc projects.

Also See:

McNally receives orders from Hindalco (06-Feb-10)