MOIL Limited (formerly Manganese Ore India Limited) has announced capital expenditure of an estimated $32 million during the financial year 2017-18 to ramp up manganese ore production to 1.25 million mt, a company official said on Tuesday, July 25.
The official said that the capital expenditure and targeted ore production has been approved as per a memorandum of understanding signed with the Indian government.
The target for the current year was in line with MOIL’s strategic plans to increase ore production to 2 million metric tons by 2020, he added.