Steel Exchange India Limited has executed a Memorandum of Understanding (MoU) with NMDC Limited on September 08, 2026. This disclosure is made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The MoU establishes a commercial and operational framework for the supply and procurement of Consistent grade Iron Ore Fines with Fe content of 61–63% and above. The iron ore will be sourced from NMDC's upcoming Buffer Stockpile & Blending Yard located in Visakhapatnam, Andhra Pradesh.
The memorandum is non-exclusive and non-binding in nature, serving as a framework agreement rather than a definitive contract. It has a primary term of four years and is intended to provide a basis for potential long-term supply of iron ore to support Steel Exchange India Limited's integrated steel manufacturing operations.
The execution of definitive Long-Term Agreements between the parties is subject to future negotiations and agreements. The company states that this MoU is expected to support its expansion plans in the near future.
The disclosure was signed by Mannem Raveendra Babu, Company Secretary & Compliance Officer (Membership No: A34409) on September 09, 2026.