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Sical, MMTC plans iron-ore terminal in Ennore Port

Sical and MMTC has formed a special purpose vehicle ‘Sical Iron Ore Terminals Ltd’ to set up a iron ore terminal in Ennore Port near Chennai. In the SPV, Sical will hold 63% while MMTC will hold the remaining 26% stake and the remaining will be held by L&T Infrastructure Development Projects Ltd. The proposed investment for the terminal is estimated at Rs.5000 million.

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