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MOIL signs MoU with Ministry of Steel for FY20

24 May 2019 Evaluate

MOIL has signed a Memorandum of Understanding (MoU) for FY 2019-20 with the Ministry of Steel. The MoU envisages an ambitious production target of 14.75 lakh tonnes of manganese ore and CAPEX target of Rs 210 crore, besides other parameters related to turnover, financials, project implementation, R&D, human resource management, etc.

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).

Peers
Company Name CMP
Coal India 393.50
NMDC 67.66
Ashapura Minechem 427.65
Sandur Manganese 168.00
GMDC 438.85
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