Joint ventures for iron ore exploration gain pace in Bengal

The joint venture between the public sector iron ore mining company KIOCL (Kudremukh Iron Ore Company Ltd) and West Bengal Mineral Development & Trading Corporation (WBMDTC) is gaining pace as the process for formation of a special purpose vehicle (SPV) has already begun.

"The joint agreement will take shape soon with the formation of a SPV. The process to set up the joint venture company is already in progress and soon it will be completed," KIOCL Chairman and Managing Director Malay Chatterjee told

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