Tata Steel inks joint venture with MMTC

New Delhi: Tata Steel and state-run MMTC have signed an agreement for setting up a joint venture to acquire, develop, operate mines and process minerals and metals.

Tata Steel will hold 74 per cent stake in the proposed JV, while the remaining 26 per cent will be held by MMTC.

MMTC and Tata Steel will cooperate for meeting the demand of raw materials for increasing steel demand and other mineral based industries.

Public sector company MMTC is engaged in international trading of minerals, metals, precious metals, fertilisers, coal and hydrocarbons and agro commodities.