Mumbai, Feb. 23 -- The aforementioned MoU was signed at the recent India-Brazil Business Forum Summit that was held in New Delhi.

Vale is a Brazilian multinational corporation engaged in metals and mining and one of the largest logistics operators in Brazil. Vale is the largest producer of iron ore and nickel in the world. It also produces manganese, ferroalloys, copper, bauxite, potash, kaolin, and cobalt. The company also operates numerous hydroelectricity plants, and a large network of railroads, ships, and ports used to transport its products.

The tripartite agreement establishes a strategic framework for the development of an iron ore blending facility and a dedicated Special Economic Zone (SEZ) at Gangavaram Port.

Under this coll...