PSU NEWS
SAIL, RINL, MOIL to set up JV for ferro alloy plant
NEW DELHI . SAIL, RINL, MOIL to set up JV for ferro alloy plant State-run MOIL Ltd, formerly known as Manganese Ore India Ltd, had inked two separate JV pacts with Steel Authority of India (SAIL) and Rashtriya Ispat Nigam Ltd (RINL) to set up two ferro alloy plants with a total outlay of Rs 600 crore.
A three-way joint venture between SAIL , RINL and MOIL to produce ferro alloys is on the cards with the earlier two separately proposed between SAIL-MOIL and MOIL-RINL having virtually been scrapped. State-run MOIL Ltd, formerly known as Manganese Ore India Ltd, had inked two separate JV pacts with Steel Authority of India (SAIL) and Rashtriya Ispat Nigam Ltd (RINL) to set up two ferro alloy plants with a total outlay of Rs 600 crore. "A couple of round discussions has already taken place between the three parties for jointly setting up the ferro alloy plant along with a captive power plant. Final decision will be taken in a couple of months' time," a source said.
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