Three PSU Majors Join Hands for Ferro Alloy Plant.

Three public sector behemoths, SAIL, Rashtriya Ispat Nigam Ltd (MOIL) and Manganese Ore India Ltd is looking at a 3-way joint venture to produce ferro alloys.

Two similar projects that were being contemplated earlier between SAIL-MOIL and MOIL-RINL have now been scrapped.

The Rs. 400 crore JV between SAIL and MOIL was proposed to be set up in Chhattisgarh with an annual capacity of one lakh tonnes per annum. The Rs. 200 crore JV between RINL-MOIL in AP was supposed to manufacture 50,000 tonnes of ferro alloys a year.

MOIL 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 '600 crore.

NEW INDIA EXPRESS