NMDC, SAIL forms JV for sale, supply of iron ore

State-run miner NMDC and steel PSU SAIL has set up a joint venture -- NMDC SAIL Ltd -- for sale and supply of iron ore from the allocated mining resource in Chhattisgarh.
NMDC in a filing to the BSE toady announced incorporation of the joint venture firm 'NMDC-SAIL Ltd'.
"The company has incorporated a subsidiary company by the name 'NMDC-SAIL Limited' on May 23, 2016 in order to develop, explore, etc. Sale/supply of iron ore from the allocated mining resource in the State of Chhattisgarh," it said.
NMDC has a majority shareholding of 51 per cent in the subsidiary company, while SAIL has the remaining 49 per cent shareholding. PTI SID

Incorporation of a subsidiary company by the name NMDC-SAIL Limited 27 May 2016 18:40
NMDC Ltd has informed BSE that the Company has incorporated a subsidiary company by the name "NMDC-SAIL Limited" on May 23, 2016 in order to develop, explore, etc. Sale / supply of iron ore from the allocated mining resource in the State of Chhattisgarh.