''We have a formed a joint venture with the world's leading private gold refining and manufacturing company PAMP to set up manufacturing cum refinery unit,'' MMTC Director (Marketing) A R Goyal told reporters here.
The country's leading importer of gold MMTC will have 74 per cent stake in the newly formed JV named MMTC PAMP India Pvt Ltd, while the rest will be ownded by PAMP.
The company expects to generate Rs 1,600 crore revenue from the joint venture from the third year of its operation, he said.
The manufacturing capacity of the unit will be about two million units and the products will be supplied to the domestic market as well as international market including South East Asia and the neighbouring countries, Mr Goyal said.
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