MOIL Limited, formerly known as Manganese Ore India Limited, will invest Rs 300 crore to expand work at its Madhya Pradesh based underground mine in Balaghat district.
"To enhance our output, we are going to increase the depth of our underground mine to 630 metre from 350 meter. Also, we will add more facilities to the mine at Balaghat," Public Sector Company - MOIL Production and Planning Director S P Kudangi told PTI.
In this ambitious plan, we are going to invest Rs 300 crore by 2015, he said claiming that Balaghat's manganese ore mine is one of the deepest ones in Asia.
Kudangi said MOIL had four mines in Madhya Pradesh which produce 4,60,000 tonnes of manganese ore annually.
This output is 40 per cent of the total production of MOIL, he added.
