Indsil Hydro Power and Manganese along with its group sister company, Indsil Energy & Electrochemicals have entered into an arrangement on 17 February 2010 with the Muscat Overseas Group from the Sultanate of Oman to form a 50:50 joint venture for the purpose of setting up a 75,000 tpy ferro chrome smelter in the Sultanate of Oman.The project would have access to 100% captive chrome are which would be made available from the existing mining operations of the Muscat Overseas Group. Indsil would be providing the technology, operating and marketing expertise for the proposed smelter project. The share capital would be held equally by both the parties to the joint venture. The project is expected to cost around US$ 30 million and is expected to operational by end of 2011.
Source :www.biginfotech.in
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