MOIL Limited, a Schedule-A, Miniratna Category-I CPSE under the administrative control of Ministry of Steel, has signed a Memorandum of Understanding (MoU) with Gujarat Mineral Development Corporation Ltd., an undertaking of Government of Gujarat, to take up project of joint exploration of manganese bearing areas, exploring its feasibility and to conduct mining operations as well as to set up value additional plant in joint venture at Vadodara and ChhotaUdepur (Gujarat) with a proposed investment of approximately. Rs. 250.00 crores.
It is proposed to commence activities of exploration on this project in the current year. The MoU by M P Chaudhari, CMD, MOIL and Arunkumar Solanki, MD, GMDC.
Government of Gujarat would facilitate MOIL to obtain necessary permissions, registrations, approvals, clearances etc. from the concerned departments of the state.
MoU will facilitate MOIL and GMDC to operate manganese mines and/or establishment of the aforesaid project(s) in Gujarat.