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MOIL plans to foray into power generation business

19 Mar 2012 Evaluate

Manganese Ore India (MOIL), country's largest manganese miner is planning to foray into power generation business. In this regard, the company has invited expression of interest from private sector players for a tie-up for development of coal blocks.

On coal blocks, the company is looking to tie-up for jointly securing, exploring, mining, commercially exploiting and participating in value addition projects relating to the coal blocks. Further, the company, which presently meets 50% of the domestic requirement of the manganese ore, plans to ramp up output to 1.5 million tonne from the existing 1.1 million tonne by 2015 through an investment of Rs 768 crore.

Currently, the company operates 10 mines, six located in the Nagpur and Bhandara districts of Maharashtra and four in the Balaghat district of Madhya Pradesh. All these mines are about a century old.

MOIL is the largest iron ore company in India and fifth largest in world. It currently operates seven underground mines (Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa mines) and three opencast mines (Dongri Buzurg, Sitapatore/Sukli, and Tirodi). The company is actively involved in exploration and development activities with a view to increase its proven manganese ore reserves.

 

MOIL Share Price

327.60 1.05 (0.32%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 438.70
NMDC 89.78
GMDC 733.40
Sandur Manganese 218.35
MOIL 327.60
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