MOIL,
a State-run manganese producer, today said it is planning to set up 2 plants of
manganese alloy products, one with Steel Authority of India (SAIL) and the
other with Rashtriya Ispat Nigam (RINL) through joint venture route, for about
Rs 600 crore.
According
to Mr. K J Singh, “Both the units will produce processed products i.e. silico-manganese
and ferro-manganese. These units are being set up in an equal partnership with
the other state-run firms SAIL and RINL. The unit with SAIL will be established
near the Bhilai steel plant (BSP) in Chhattisgarh for Rs 400 crore and produce
about 1,06,000 MT per annum of the manganese alloys.”
At
the other end, the unit with RINL will be established at Bobli, near
Vishakhapattnam in Andhra Pradesh with 57,000 MT per annum production capacity for
Rs 200 crore, he added.
Moreover
he said that “both the units are expected to be commissioned by 2013-14. All
the investment will be met equally by the joint ventures partners” MOIL
will meet its contribution of Rs 300 crore from the internal cash reserves of
the company, Mr. Singh added to his statement.
Besides
this, the ongoing expansion of company's capacity, through which the
Nagpur-based company aims to have a total production capacity of 2 million
tonne by 2020, is on time, Singh said.
The
company is investing about Rs 1,200 crore to augment its capacity by increasing
the output at Balaghat underground mine in Madhya Pradesh and Dongri Buzurg
open cast mine in Maharashtra to 5 lakh tonne each.
In
2010-11, MOIL produced about 1.15 million tonnes of manganese from its seven
underground (Kandri, Munsar, Beldongri, Gumgaon, Chikla, Balaghat and Ukwa
mines) and three opencast mines (Dongri Buzurg, Sitapatore/Sukli, and Tirodi
that are estimated to have total reserves of 60 million tonne.
MOIL,
formerly known as Manganese Ore India, is biggest domestic producer of
manganese ore, primarily used to make ferro-alloys for steel production.
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