State-owned iron ore producer NMDC and Tata Steel signed MoU to examine the possibility of a strategic alliance for acquisition, exploration and development of mines and setting up integrated steel plants. It would be converted into a joint venture company later.
The two companies would set up a working group to explore and finalise the areas of cooperation and submit its report to a steering committee. Thereafter a decision to enter into joint venture would be taken.
In the current scenario, in which the country's steel policy envisaged doubling of steel-making capacity over the next decade, an opportunity has come for both the companies to work together towards this goal.
crackcrack| Company Name | CMP |
|---|---|
| Coal India | 438.70 |
| NMDC | 89.78 |
| GMDC | 733.40 |
| Sandur Manganese | 218.35 |
| MOIL | 327.60 |
| View more.. | |
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