Homeinfrastructure News

Nava Bharat Ventures inks pact with Tata Steel arm for conversion of high carbon ferro chrome

Nava Bharat Ventures inks pact with Tata Steel arm for conversion of high carbon ferro chrome

Nava Bharat Ventures inks pact with Tata Steel arm for conversion of high carbon ferro chrome
Profile image

By PTI Dec 3, 2020 11:55:35 AM IST (Published)

The company added that the agreement postulates that the entire smelting capacity of the Odisha plant is dedicated to TSML to produce up to 70,000 metric tonnes of high carbon ferro chrome per annum.

Ferro alloys manufacturer Nava Bharat Ventures on Thursday said it has entered into a five-year agreement with a Tata Steel arm for conversion of high carbon ferro chrome. In a regulatory filing, Nava Bharat Ventures said ”it has entered into a conversion agreement with Tata Steel Mining (TSML), wholly-owned subsidiary of Tata Steel, with which similar arrangement subsisted, for conversion of high carbon ferro chrome. The duration of the conversion agreement with TSML is from December 1, 2020, to March 31, 2025”.

Recommended Articles

View All

The company added that the agreement postulates that the entire smelting capacity of the Odisha plant is dedicated to TSML to produce up to 70,000 metric tonnes of high carbon ferro chrome per annum.
”Thereby, the arrangement should provide long-term operational stability for the ferro alloy plant and associated captive power plant at Odisha,” the company said. Shares of Nava Bharat Ventures were trading 3.52 percent higher at Rs 57.35 apiece on BSE.
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!

Most Read

Market Movers

View All
Top GainersTop Losers
CurrencyCommodities
CompanyPriceChng%Chng