NMDC, SAIL forms JV for sale, supply of iron ore

Trade

• Watchlist
• Portfolio
• Message
• Set Alert

 

 

live

• bselive
• nselive

Volume

Todays L/H

More

×

State-run miner NMDC and steel PSU SAIL has set up a joint venture -- NMDC SAIL Ltd - for sale and supply of iron ore from the allocated mining resource in Chhattisgarh.

NMDC in a filing to the BSE announced incorporation of the joint venture firm 'NMDC-SAIL Ltd'.

"The company has incorporated a subsidiary company by the name 'NMDC-SAIL Limited' on May 23, 2016 in order to develop, explore, etc. sale/supply of iron ore from the allocated mining resource in the State of Chhattisgarh," it said.

NMDC has a majority shareholding of 51 per cent in the subsidiary company, while SAIL has the remaining 49 per cent shareholding.