NMDC-Monnet joint venture to acquire coal blocks
Date: 09-06-2010NMDC is forming a 51:49 joint venture with Monnet Ispat & Energy to acquire and develop coal blocks in
As part of the agreement, Monnet will provide technology and expertise for coal mining. The coal will either be sold commercially or be used internally for power projects that the JV may intend to set up in future.
The new venture is expected to be set up in the next few months and investments in the company will depend on the size of the coal mine to be developed. crackcrack