IMMT and Essar Steel Ltd., Visakhapatnam signed a MoU to work on process and plant optimization programmes of mutual interest related to mineral processing activities on joint venture.

The MoU was signed by Prof. BK Mishra, Director, IMMT, Bhubaneswar and Mr. MK Sampath, CEO-Pellet Project (India), Essar Steel Holdings Ltd. in a function organized at IMMT Conference Hall on 23rd July 2008. Senior Essar officials and Scientists of Mineral Processing Department of IMMT were also present. Shri PSR Reddy, Scientist-G & Head, Mineral Processing, Department organized the event.

As per the framework of the MoU, Dr. SK Biswal, Scientist-IMMT and Mr. AS Prasad, Head Technology, Pellet Projects-India, Essar Steel Holdings, Ltd. have been nominated as coordinators to frame and execute projects to be funded by Essar. Essar Steel Ltd. has deposited Rs 25 Lakhs as advance money to IMMT.

The initiative is the first of its kind for IMMT to kick start Public Private Partnership (PPP) in R&D.