Lloyds Metals and Energy Limited has signed a non-binding Memorandum of Understanding (MoU) with Tata Steel Limited to examine potential areas of cooperation across mining, logistics. pellet production and steelmaking. The MoU was signed by Lloyds Metals Managing Director B. Prabhakaran and Tata Steel CEO and Managing Director T. V. Narendran.
The companies said the proposed partnership will assess opportunities arising from operational synergies between them and will include greenfield steel projects, iron ore mining, slurry pipeline infrastructure, pellet production, direct reduced iron and exports of low-carbon iron and steel products.
Evaluation framework and regional focus
Under the MoU, the companies wil explore cooperation in Gadchiroli district. Maharashtra. This includes operating mining concessions and related infrastructure to increase iron ore and assessing potential strategic involvement of TATA Steel in integrated steel projects under development by Lloyds Metals.
All initiatives will be subject to detailed evaluation, due diligence and required internal and regulatory approvals.
Recent developments
Tata Steel has recently acquired a 50.01 per cent stake in Brahmani River Pellets Limited, which operates a 4 MTPA pellet plant in Jajpur, Odisha, and a 212-kilometre slurry pipeline connected to a beneficiation plant in Barbil.
Tata Steel has a crude steelmaking capacity of 35 MTPA and operates integrated steel plants producing a range of branded and value-added products.
Lloyds Metals operates what it describes as the largest iron ore mine in India in Gadchiroli and is developing integrated steel manufacturing capacity alongside its existing DRI, pellet and iron ore operations.
Posted On :
