December 10, 2016 2:44 AM ET

Metals and Mining

Company Overview of Odisha Mining Corporation Limited

Company Overview

Odisha Mining Corporation Limited produces and sells chrome, iron, and manganese ores in India and internationally. It offers its products for steel, sponge iron, pig iron, silico manganese, ferro alloys, refractory, processing, chemical, ferro-manganese, and ferro-chrome industries. The company was founded in 1956 and is based in Bhubaneshwar, India. It has regional offices in Jajpur, Keonjhar, Keonjhar, Sundargarh, Rayagada, and Angul, India. The company also has an export office in Paradip, India.

OMC House

Post Box No.34

Bhubaneshwar,  751 001

India

Founded in 1956

Phone:

91 67 4237 7400

Fax:

91 67 4239 6889

Key Executives for Odisha Mining Corporation Limited

Managing Director and Director
General Manager of Finance
C.V.O. and General Manager of Security
General Manager of P&A and Company Secretary
Assistant General Manager of M
Compensation as of Fiscal Year 2016.

Odisha Mining Corporation Limited Key Developments

Rashtriya Ispat Nigam To Buy Stake In Ultra Mega Steel Project

Rashtriya Ispat Nigam Ltd. is looking to buy a stake in ultra-mega steel project in Odisha. A state official familiar with the development said, "Rashtriya Ispat Nigam has been roped in by the Union steel ministry to have equity participation in the ultra-mega steel plant. Rashtriya Ispat Nigam has sent a proposal to the state government, conveying its interest to pick up stake in the project. But they have not indicated the percentage of equity." Previously it was decided that NMDC Limited (BSE:526371) and Odisha Mining Corporation Limited will hold 50% each, but now NMDC is likely to dilute some stake. "It can be 25 per cent equity each for NMDC and RINL. But the exact shareholding is yet to be decided," said the official.

NTPC Eyes 505 Stake In OPTCL's Project

NTPC Ltd. (BSE:532555) is interested in acquiring 50% stake in the 2400 Mw (3x800) power project to be set up at Kamakhyanagar in Dhenkanal district. Odisha Thermal Power Corporation Ltd. (OPTCL) is developing the project. Odisha Mining Corporation Limited (OMC) and Odisha Hydro Power Corporation Ltd. (OHPC) hold 50% stake each in OPTCL. "NTPC has given a proposal to acquire 50% stake in the OTPCL project. But the government has not taken a call on it yet. To accommodate NTPC, each of the joint venture partners have to dilute their stakes", said a government official. Larsen & Toubro Limited (BSE:500510) (L&T) and Bharat Heavy Electricals Ltd. (BSE:500103) were also interested in acquiring 26% stake in OTPCL's project with a rider that their equipment would be used in the power plant. This contradicted the state government's initial plan of divesting 74% stake presumably because both its PSUs had no previous experience of building and running thermal power plants.

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Recent Private Companies Transactions

Type
Date
Target
No transactions available in the past 12 months.
 

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