Indian steelmaker Steel Authority of India Ltd (SAIL) has announced the signing of a memorandum of understanding (MoU) with Manganese Ore India Ltd. (MOIL) for the formation of a joint venture (JV) company that will produce ferromanganese and silicomanganese.
The deal, which has been approved by the boards of the two companies, will ensure regular supplies of manganese ore to SAIL. The financial details regarding the JV have not been disclosed.
The proposed JV will initially supply around 31,000 mts of ferromanganese and 70,000 mts of silicomanganese.