Indian ferroalloy producer Nava Bharat Ventures Limited (NBVL) has entered into a five-year agreement with Tata Steel Mining Limited (TMIL), a wholly owned subsidiary of Tata Steel, for the conversion of high-carbon ferrochrome, NBVL said in a regulatory filing on Tuesday, December 8.
In the filing, NBVL said that the agreement with TMIL stipulated that the entire smelting capacity of its plant in Odisha will be dedicated to TSML to produce about 70,000 mt of high-carbon ferrochrome per year, and the arrangement will provide long-term stability for NBVL’s ferroalloy plant along with its captive power plant.
The conversion agreement will be valid from December 1, 2020, until March 31, 2025, the company reported.