MOIL targets to produce 14.75 lakh tonne manganese ore in FY20.

State-owned MOIL recently said it targets a manganese ore production of 14.75 lakh tonne and a capital expenditure of Rs. 210 crore in the current financial year.

For these targets, the public sector undertaking has inked a pact with the Ministry of Steel, MOIL said in a filing to the BSE.

"MOIL Ltd. has signed a memorandum of understanding (MoU) for 2019-20. The MoU envisages an ambitious production target of 14.75 lakh tonne of manganese ore and a capex target of Rs. 210 crore, besides other parameters related to turnover, financials, project implementation, research and development, human resource management, etc." 

MOIL has been signing the MoU with its administrative ministry (Ministry of Steel) for more than 20 years.

BS