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Mumbai, Jan. 16 Tata Steel has concluded a joint venture agreement with the Al Bahja Group of Oman for the development of the Uyun limestone deposits at Salalah in the Sultanate of Oman.

Mr B. Muthuraman, Managing Director of Tata Steel, and Mr Ajit Hamlai, Chairman of the Al Bahja Group, signed the joint venture agreement.

Tata Steel will be holding 70 per cent stake in the existing company, named Al Rimal Mining LLC, through its subsidiary, TS Global Minerals Holdings Pte Ltd. Al Rimal will execute the project of developing and operating the Uyun mine.

The initial phase will involve exploration and detailed feasibility studies.

The project envisages mining of limestone in the Uyun region, which is said to have large deposits of the raw material.

Mr Muthuraman said the partnership would play a significant role in the mineral development of the Sultanate of Oman.

More Stories on : Alliances & Joint Ventures | Steel | Minerals | Tata Steel Ltd

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