Records highest-ever turnover of more than Rs 1300 crore
MOIL has achieved the highest-ever turnover of more than Rs.1,300 crore (unaudited & provisional) during financial year 2017-18, registering a growth of more than 31% over previous year's turnover of Rs.990 crore.The company has produced about 1.2 million tonnes of Manganese ore which is the highest ever production in last 10 years. It has recorded the highest ever production as well as sales of non-fines manganese ore during financial year 2017-18.
In order to achieve the production target of 2 million tonnes by 2021 and 2.5 million tonnes by 2025, MOIL has taken up various mine development and expansion projects which include setting up of high speed shaft at Balaghat and Gumgaon Mines with total investment of about Rs.460 cores. With a view to diversify its activities, MOIL's Board has recently approved projects for setting up of ferro alloy plant of total 75,000 MT capacity at Balaghat and Gumgaon Mines with total investment of about Rs.419 crore.
To promote renewable energy and to save the energy cost, the company is in the process of setting up 10.5 MW solar power project at its mine located in the State of Madhya Pradesh and Maharashtra. In addition to this, the company's Board has also approved setting up of solar power project of 20 MW capacity at District Rajgarh in Madhya Pradesh State with total investment of about Rs.110 crore.
Powered by Capital Market - Live News
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)
RECOMMENDED FOR YOU