Nava Bharat Ventures enters into settlement with Tata Steel Mining by admin- Thursday, December 3rd, 2020 04:53:40 PM
Nava Bharat Ventures has entered into a Conversion Agreement with Tata Steel Mining, absolutely owned subsidiary of Tata Steel, with which similar arrangement subsisted, for conversion of excessive carbon ferro chrome. The period of the Conversion Agreement with TSML is from 01 December 2020 to 31 March 2025.
The Agreement postulates that the whole smelting potential of the Odisha plant is devoted to TSML to produce as much as 70,000 metric heaps of excessive carbon ferro chrome consistent with annum. Thereby, the association must provide long-term operational balance for the Ferro Alloy plant and related Captive Power Plant at Odisha.