Indian integrated steel mill operator Steel Exchange India Limited (SEIL) and Indian state-owned mining company NMDC Limited have signed an agreement for the long-term supply of iron ore from a future iron ore storage and mixing plant in the southern port city of Visakhapatnam, according to a regulatory statement from Thursday, September 10.
According to the agreement, NMDC Limited will supply stable quality pig iron, fine ore with an iron content of 61-63% is supplied to SIEL for a period of four years.
The agreement provides for several supply options, including direct deliveries by conveyor and transportation by various logistics methods.
Development This is due to the expansion of SEIL's production facilities, including the recent commissioning of a new heating furnace. The company considers cooperation with NMDC as part of its efforts to expand access to raw materials for its steel plants, the company said.
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