Latest Expert Exchange Queries

GST Demo Service software link: https://ims.go2customer.com
Username: demouser Password: demopass
Get your inventory and invoicing software GST Ready from Binarysoft info@binarysoft.com
sitemapHome | Registration | Job Portal for CA's | Expert Exchange | Currency Converter | Post Matrimonial Ads | Post Property Ads
 
 
News shortcuts: From the Courts | News Headlines | VAT (Value Added Tax) | Placements & Empanelment | Various Acts & Rules | Latest Circulars | New Forms | Forex | Auditing | Direct Tax | Customs and Excise | ICAI | Corporate Law | Markets | Students | General | Mergers and Acquisitions | Continuing Prof. Edu. | Budget Extravaganza | Transfer Pricing | GST - Goods and Services Tax
 
 
 
 
Popular Search: cpt :: form 3cd :: ICAI offer Get Windows 7,Office 2010 in Rs.799 Taxes :: articles on VAT and GST in India :: Central Excise rule to resale the machines to a new company :: TDS :: empanelment :: ARTICLES ON INPUT TAX CREDIT IN VAT :: VAT RATES :: ACCOUNTING STANDARDS :: ACCOUNTING STANDARD :: TAX RATES - GOODS TAXABLE @ 4% :: due date for vat payment :: list of goods taxed at 4% :: VAT Audit
 
 
Mergers and Acquisitions »
 Is India a more conducive market for mergers than acquisitions?
 Decoding The Merger And Acquisitions Trends In Indian Startup Ecosystem
 India witnesses high level of merger and acquisition in online food delivery start-up space
 Financial services ripe for mergers and acquisitions
 Telecom M&As mean better spectrum utilisation, services: Govt
 Vodafone India-Idea Cellular merger deal gets CCI nod
 Surge in due diligence activity brings flood of business to big four
 As Reliance rolls out Jio Phone for 'free', mergers among smaller telcos may accelerate
 Building market institutions can help M&As move faster
 How corporate mergers and acquisitions impact small investors
 Merger control triggers and thresholds in India

MOIL invites bids to form JVs for acquisitions abroad
December, 29th 2010

Eyeing properties overseas to meet the growing domestic demand for manganese ore, which is pegged to touch 4.5 million tonnes by 2012, the state-owned MOIL has invited bids from global firms to form JVs for such acquisitions.

"... MOIL invites proposals on ... investment opportunities primarily for Manganese Ore and other minerals both within India and globally," the company said.

The PSU is also eyeing in domestic markets for its capacity expansion. It also invited proposals from owners of mineral concessions for participation with MOIL in development of their resources.

The tie-up, the miniratna firm said, would be for supply of manganese ore to domestic ferro alloy manufacturers besides developing new and existing mines. The expression of interest would close on January 31, 2011.

Manganese Ore India Ltd (MOIL), which mopped up over Rs 1,000 crore through its initial public offer, which was subscribed times last month, has already announced that it is looking at acquisitions in South Africa, Turkey and Congo to meet ore demand.

The demand for manganese ore is pegged to touch 4.5 million tonnes (MT) from present 2.4 MT in 2012 if the target for enhancing steel production capacity to 120 MT is met. The company is exploring opportunities in South Africa with NMDC , which is India's largest iron ore producer.

Besides manganese, MOIL is also eying nickel and chromite properties abroad. Manganese ore is a key ingredient for producing steel and about 30 kg of ore is required to produce a tonne of steel. The country's steel output is likely to increase to 120 MT by 2012 from about 70 MT at present, resulting in the need for about 4.5 MT of manganese ore.

MOIL at present meets 50 per cent of the domestic requirement of the ore and plans to ramp up production within the country to 1.5 million tonnes from the existing 1.1 million tonnes by 2015 through an investment of Rs 768 crore.

The company is also in the process of expanding its domestic ore reserves and plans to carry out about 50,000 metres of exploratory activities in 814 hectares of land adjacent to its existing reserves in Bhandara and Nagpur, which has been reserved for it by the Maharashtra government.

MOIL is also setting up two ferro-alloy plants under joint ventures with SAIL and Rashtriya Ispat Nigam Ltd at a total investment of Rs 150 crore. It operates 10 mines, six in Maharashtra and four in Madhya Pradesh, out of which seven are underground and three are open cast mines.

 
 
Home | About Us | Terms and Conditions | Contact Us
Copyright 2017 CAinINDIA All Right Reserved.
Designed and Developed by Binarysoft Technologies Pvt. Ltd.
Article Management Solutions System Article Management Software S

Transfer Pricing | International Taxation | Business Consulting | Corporate Compliance and Consulting | Assurance and Risk Advisory | Indirect Taxes | Direct Taxes | Transaction Advisory | Regular Compliance and Reporting | Tax Assessments | International Taxation Advisory | Capital Structuring | Withholding tax advisory | Expatriate Tax Reporting | Litigation | Badges | Club Badges | Seals | Military Insignias | Emblems | Family Crest | Software Development India | Software Development Company | SEO Company | Web Application Development | MLM Software | MLM Solutions