Tata Steel, MMTC join hands for mining development
By IANSThursday, October 22, 2009
KOLKATA - Steel major Tata Steel Limited and MMTC Limited signed an agreement Thursday to establish a 74:26 joint venture company for acquiring, development and operation of mines and processing of minerals and metals, a statement said here.
“Steel production in India is projected to grow to over 120 million tonnes by the year 2015.
“To cater to the raw materials requirement of increasing steel demand and other mineral based industries, MMTC and Tata Steel have agreed to co-operate with each other and are executing this agreement for setting up a joint venture for the above purpose,” the statement said.
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