MMTC has reportedly started a process to offload its entire 26% equity in Sical Iron Ore Terminal (SIOTL), a subsidiary of Sical Logistics. The terminal has been set up at Kamarajar Port (formerly Ennore Port).
This is the second joint venture company where MMTC is completely exiting its stake. In June, it had invited bids from those interested to sell its residual 9.5% stake in Indian Commodity Exchange (ICEX), signalling its exit from the bourse.
MMTC is major global player in the minerals trade and is the single largest exporter of minerals from India.
