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Nava Bharat Ventures Ltd has entered into an agreement with Tata Steel Limited for conversion of chrome ore into ferro chrome at its manufacturing plant located in Odisha.
This arrangement will commence upon the receipt of ore and reductants from TSL during this month.
The agreement is initially up to the end of March 2016 and extendable on mutually agreed terms for a further period of four years.
The agreement postulates that the entire smelting capacity of the Odisha plant is dedicated for TSL to produce up to 70,000 MT of high carbon ferro chrome per annum.
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