India’s state-owned iron ore producer NMDC has signed a four-year memorandum of understanding (MoU) with Steel Exchange India Limited (SEIL) for long-term supply of iron ore fines.
Under the agreement, SEIL will source consistent-grade iron ore fines from NMDC’s upcoming buffer stockpile and blending yard in Visakhapatnam. The arrangement will provide SEIL with proximity-based access to raw materials through multiple logistics modes, helping reduce freight costs and transit times.
The agreement is expected to strengthen SEIL’s raw material security and support its expanded steelmaking operations at Vizianagaram, Andhra Pradesh.
Steel Exchange India Limited (SEIL) is an integrated steel producer and the flagship company of the Vizag Profiles Group.