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MOIL’s board has approved investment proposal, for setting up ferro alloy plants.
The company’s board in their meeting held on March 08, approved investment proposals for setting up ferro alloys plant (FAP) at Balaghat mine. This is a 50000 MTPA project and involves total investment of Rs.263.82 crore and is expected to be commissioned by the end of 2021.
The board has also given approval for setting up FAP at Gumgaon mine. This is a 25000 MTPA project and involves total investment of Rs.155 crore and is expected to be commissioned by the end of 2021.
Moreover, theses setting up of FAP are a part of diversification options stipulated in the strategic management plan, for the growth of the company.
