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New Delhi June 26 SAIL and Manganese Ore India Ltd (MOIL) have inked an MoU to jointly produce ferro-manganese and silico-manganese from three new furnaces to be set up at an investment of Rs 225 crore near Bhilai.

The boards of both the companies had earlier given the go-ahead for setting up a 50:50 joint venture company with a debt-equity ratio of 1:1, a SAIL release said.

The proposed company will initially supply around 31,000 tonnes of ferro-manganese and 70,000 tonnes of silico-manganese to meet SAIL's requirements for producing 24 million tonnes of crude steel by 2010, it said.

More Stories on : Alliances & Joint Ventures | Steel | Steel Authority of India Ltd

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