MOIL has signed a joint venture (JV) agreement with Madhya Pradesh State Mining Corporation Limited (MPSMCL). This agreement was made at the MP Mining Conclave 2024, held in Bhopal. The aim is to promote manganese ore mining in the state.
Key Leaders Attend the Signing Ceremony
The agreement was signed in the presence of Madhya Pradesh’s Chief Minister, Dr. Mohan Yadav. Other key figures included Mr. Sanjay Shukla, Principal Secretary of Madhya Pradesh, Shri Ajit Kumar Saxena, CMD of MOIL, and Shri M. M. Abdulla, Director of Production and Planning at MOIL. Several other dignitaries also attended the event.
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New Joint Venture Company
Under this agreement, a new JV company will be created. MOIL will hold 51% of the shares, while MPSMCL will have 49%. This partnership is expected to benefit from Madhya Pradesh’s rich manganese ore resources.
Economic Growth and Job Creation
This collaboration is set to bring economic growth and create many jobs in the region. It aligns with the “Atma Nirbhar Bharat” initiative, which focuses on making India more self-reliant.
