New Delhi, State-owned MOIL board on Wednesday approved an agreement to form a joint venture company with Gujarat Mineral Corporation for manganese ore mining in Gujarat. MOIL will have a majority 51 per cent stake in the JV company, while the remaining 49 per cent will be held by GMDC, the state-owned firm said in a BSE filing.
“The board of MOIL at its meeting held on December 13, 2023, has approved a Joint Venture agreement for the formation of 51:49 Joint Venture Company between MOIL Ltd and Gujarat Mineral Corporation Limited (GMDC) for manganese ore mining in the State of Gujarat,” the filing said.
