MOIL on Monday said its proposed joint ventures with SAIL and RINL for setting up facilities to make ferro alloy in Chhattisgarh and Andhra Pradesh are likely to be operational in the next fiscal.
An Environment Ministry panel in August has already given the green nod to MOIL’s proposed Rs 400-crore joint venture with SAIL for setting up 1.06 lakh tonnes per annum (tpa) ferro alloy manufacturing facility in Chhattisgarh.
“We will start work soon on both the projects which are likely to go on stream in 2012—13,” said Mr K J Singh, Chairman and Managing Director, MOIL.
Mr Singh said talks were in the advanced stage for setting up the main furnace for the Chhattisgarh facility in JV with SAIL, while work was likely to commence soon on the proposed Rs 200 crore Andhra Pradesh unit in tie-up with RINL to produce 57,000 tpa of ferro alloy.
In both the ventures, MOIL Ltd, formerly Manganese Ore (India) Ltd will have a 50 per cent stake.
The firm, the largest domestic manganese producer, had separately signed MoUs with SAIL and RINL to set up the two facilities making ferro alloy, used in steel making for de-oxidising purposes.