MOIL signs MoU with GMDC

Deepthi | Myequity news | Date : 18-01-2019 18:55:00 IST

MOIL Limited, a Schedule-A, Miniratna Category-I CPSE under the administrative control of Ministry of Steel, Government of India, has signed Memorandum of Understanding (MoU) with Gujarat Mineral Development Corporation Ltd., an undertaking of Government of Gujarat, to take up project of joint exploration of manganese bearing areas, exploring its feasibility and to conduct Mining Operations as well as to set up Value Additional Plant in JV at Vadodara & Chhota Udepur (Gujarat) with a proposed investment of approx. Rs.250.00 Crores. It is proposed to commence activities of exploration on this project in 2019.

Government of Gujarat would facilitate MOIL to obtain necessary permissions / registrations / approvals / clearances etc. from the concerned departments of the State, as per the existing policies / rules and regulations of the State Government. MoU is made to facilitate MOIL and GMDC for operating manganese mines and/or establishment of the aforesaid Project(s) in Gujarat.

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