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| Exchange Disseminated Time 14/09/2015 17:23:34 | Nava Bharat Ventures Ltd has informed BSE that the Company has entered into a Conversion Agreement with M/s. Tata Steel Limited (TSL) for conversion of Chrome Ore into Ferro Chrome, and the arrangement will commence upon.the receipt of ore and reductants from TSL during this month.
The Agreement is initially up to the end of March 2016 and extendable on mutually agreed terms for a further period of four (4) years.
The Agreement postulates that the entire smelting capacity of the Odisha plant is dedicated for TSL to ptoduce up to 70,000 MT of High Carbon Ferro Chrome per annum. |
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