Solar Explosives Ltd, an explosives and explosion-initiating devices
manufacturer, will form a joint venture with Chhattisgarh
government-owned CMDC and SMS Infrastructure Ltd to mine and market
coal from the Shankarpur area in the state.Nilesh Panpaliya, vice
president (finance), Solar Explosives, said CMDC would have a 51% share
in the JV. "SMS Infrastructure will control 51% of the remaining 49%
that we share with it," he said. Panpaliya added that Solar Explosive
would be spending Rs 125 crore on the JV.
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