Nava Bharat Ventures has informed that the company has entered into a Conversion Agreement with TATA Steel Mining (TSML), wholly owned subsidiary of TATA Steel (TSL), with which similar arrangement subsisted, for conversion of high carbon ferro chrome. The duration of the Conversion Agreement with TSML is from December 1, 2020 to March 31,2025. The Agreement postulates that the entire smelting capacity of the Odisha plant is dedicated to TSML to produce up to 70,000 metric tons of high carbon ferro chrome per annum. Thereby, the arrangement should provide long-term operational stability for the Ferro Alloy plant and associated Captive Power Plant at Odisha.
The above information is a part of company’s filings submitted to BSE.
