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UAE-India Business Forum: Indian entities signs MoU with UAE for Global Cooperation in Critical Mineral Supply Chain

calender11/09/2024
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Bhubaneswar/ 11.09.2024: Indian business entities including Khanij Bidesh India Limited (KABIL), Oil India Limited (OIL), ONGC Videsh Limited (OVL) has signed a significant Memorandum of Understanding (MoU) with International Resources Holdings RSC Ltd. (IRH) of UAE, marking a pivotal step in global cooperation on the critical mineral supply chain. Key aspects of the MoU include joint project identification, due diligence, risk management strategies, and the development of a long-term offtake strategy.
The MoU was signed by Shri Sadashiv Samantaray, CEO of KABIL and Director (Commercial) of NALCO; Dr. Ranjit Rath, CMD of OIL; Shri Rajarshi Gupta, MD of OVL; with Ms. H.E. Mariam Mohammed Saeed Hareb AlMheiri of IRH, at the UAE-India Business Forum, held at Mumbai on September10. The MoU underscores a commitment to leveraging each party’s expertise, resources, and networks to achieve operational excellence and ensure a stable supply of essential energy minerals. This partnership also aims to further foster collaboration in the identification, acquisition, and development of critical mineral projects.
CMD NALCO & Chairman, KABIL Shri Sridhar Patra expressed his happiness about the collaboration with UAE and said: “This a significant milestone in our efforts to strengthen the global critical mineral supply chain and ensuring a sustainable future for the country which will contribute to Atmanirbhar Bharat”.