The board of directors of MOIL has approved investment proposals, including the establishment of a ferro alloys plant at Balaghat mine - the 50,000 tpa project involves an investment of ₹263.82 crore; and the setting up FAP at Gumgaon mine, a 25,000 tpa project with investment of ₹155 crore. Both projects are expected to be commissioned by end 2021. This is a part of the diversification strategy stipulated in the management plan for the company’s growth, it said in a notice to the stock exchanges. Shares of MOIL closed 0.83 per cent at ₹203.60 on the BSE.
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