📷 Image: Wikimedia Commons / Rosehubwiki, Ramkesh Patel
Business
MOIL Announces Joint Venture Update with MPSMCL
✍️ Kalkine India
🗓 17 Oct 2026, 09:01 PM
👁 13
Mahanadi Coalfields Limited (MOIL) has released details of its latest joint venture arrangement with Mahanadi Power & Steel Mining Company Limited (MPSMCL), outlining the partnership's scope and future plans.
Mahanadi Coalfields Limited (MOIL) today announced an update on its joint venture with Mahanadi Power & Steel Mining Company Limited (MPSMCL), detailing the structure and objectives of the partnership.
The joint venture aims to harness coal resources in the Mahanadi basin, with MOIL holding a majority stake while MPSMCL contributes technical expertise and capital investment. The agreement covers exploration, mining, and processing facilities, targeting a combined production capacity of 4 million tonnes per annum.
Both companies highlighted that the collaboration will streamline operations, reduce costs, and enhance supply chain efficiency for power and steel sectors. The venture is expected to create employment opportunities and boost local economic development.
MOIL’s CEO stated that the partnership aligns with the company’s growth strategy and regulatory approvals are underway to commence operations in the next fiscal year.
The joint venture aims to harness coal resources in the Mahanadi basin, with MOIL holding a majority stake while MPSMCL contributes technical expertise and capital investment. The agreement covers exploration, mining, and processing facilities, targeting a combined production capacity of 4 million tonnes per annum.
Both companies highlighted that the collaboration will streamline operations, reduce costs, and enhance supply chain efficiency for power and steel sectors. The venture is expected to create employment opportunities and boost local economic development.
MOIL’s CEO stated that the partnership aligns with the company’s growth strategy and regulatory approvals are underway to commence operations in the next fiscal year.