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MMTC to sell entire stake in Sical Iron Ore Terminal: Report

01 Nov 2017 Evaluate

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.

Peers
Company Name CMP
Redington 329.70
Adani Enterprises 2706.50
Amrapali Industries 33.99
Maxgrow India 172.35
Rashi Peripheral 748.10
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