MOIL-GMDC pact on manganese exploration in Gujarat; to spend Rs 250 cr

State-run manganese ore producer MOIL Friday announced that it has entered into a pact with GMDC to set up a plant in a joint venture in Gujarat with an investment of around Rs 250 crore and to conduct joint exploration of manganese-bearing areas.

MOIL has signed a memorandum of understanding with Gujarat Mineral Development Corporation (GMDC) "to take up project of joint exploration of manganese-bearing areas, exploring its feasibility and to conduct mining operations as well as to set up value additional plant in JV at Vadodara and Chhota Udepur (Gujarat) with a proposed investment of approximately Rs 250 crore," the company said in a BSE filing.

The company said it is proposed to commence activities of exploration on this project in 2019. The Gujarat government would facilitate MOIL to obtain necessary clearances from the concerned departments of the state, it said. "MoU is made to facilitate MOIL and GMDC for operating manganese mines and/or establishment of the aforesaid project(s) in Gujarat," it said.

(With inputs from agencies.)