India’s Indsil Hydro Power and Manganese and its group sister company, Indsil Energy & Electrochemicals have entered into an arrangement with the Muscat Overseas Group in Oman to set up a form a 50:50 joint venture to set up a 75,000 tpy ferro chrome smelter in the Sultanate of Oman at a cost of US$30 million.
The project would have access to Muscat Overseas’ chrome ore assets in Oman. Indsil will provide the technology, operating and marketing expertise for the project. The share capital would be held equally by both the parties to the joint venture. The project is expected to be operational by the end of 2011.
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