MOIL working on new projects worth Rs 581 cr
MOIL, under the Ministry of Steel, operates 11 mines in the states of Maharashtra and Madhya Pradesh
The state-owned manganese ore mining firm MOIL is working on multiple new projects worth cumulatively Rs 581 crore at its mines in Madhya Pradesh and Maharashtra.
The company is aiming to complete these projects by August 2021. At Munsar mine in Maharashtra, the company is setting up a new vertical shaft at a depth of 160 mtr at a capital cost of Rs 51.32 crore.
The scheduled completion of the work was in April 2020. However, the work is in progress and completion of the project will be in November 2020. Another project of Rs 77.15 crore for setting up a sinking vertical shaft at a depth of 324 mtr is going on at the company's Ukwa mine in Madhya Pradesh.
At the site, shaft sinking and lining up to 200 mtr has been completed. The project is expected to be completed in August 2021.
The Rs 194 crore project of sinking a large diameter high-speed vertical shaft of 330 mtr depth at Gumgaon mine Maharashtra will be completed by January 2021. The shaft sinking and lining up to 180 mtr depth at site is completed.
At Balaghat mine in Madhya Pradesh, work for sinking a large diameter high-speed vertical shaft of 750 mtr depth is undergoing. The shaft sinking and lining up to 480 mtr depth at Rs 259 crore project site is completed and the overall project is scheduled to be completed in July 2021.
Two projects worth Rs 418.82 crore have already been approved by the Board.
The company plans 50,000 tpa ferro alloys plant at Balaghat mine with an investment of Rs 263.82 crore, and 25,000 tpa ferro alloys plant at Gumgaon mine with an investment of Rs 155 crore.
MOIL, under the Ministry of Steel, operates 11 mines in the states of Maharashtra and Madhya Pradesh.