Capex planned at Rs 200 crore
MOIL has signed a Memorandum of Understanding (MoU) for FY 2018-19 with the Ministry of Steel. This is the 23rd consecutive year that MOIL has signed MoU with the Government of India.During 2017-18, MOIL has achieved significant growth of 19.53% in production of ore and has also registered highest production and sales of lumps and chips (excluding fines). The Company is the largest producer of manganese ore in the country and produces around 50% of the country's production of manganese ore.
The MoU envisages an ambitious production target of 13.25 lakh tonnes of manganese ore and sets capex target of around Rs. 200 crore, besides turnover and related financials, project implementation, R&D, customer satisfaction, human resource management, etc.
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