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Nava Bharat Ventures Limited has entered into an agreement with Tata Steel Mining Limited (TSML), wholly-owned subsidiary of TATA Steel Limited (TSL), with which similar arrangement subsisted, for conversion of high carbon ferro chrome.
The duration of the conversion agreement with TSML is from December 1, 2020 to March 31, 2025.
The agreement postulates that the entire smelting capacity of the Odisha plant is dedicated to TSML to produce up to 70,000 tonnes of high carbon ferro chrome per annum. Thereby, the arrangement should provide long-term operational stability for the ferro alloy plant and associated captive power plant at Odisha, the company informed BSE in a regulatory filing.
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