India's major miner, state-run National Mineral Development Corporation (NMDC), has announced that it has clinched a memorandum of understanding (MoU) with West Bengal Mineral Development and Trading Corporation (WBMDTC).

According to the sources, the pact is inked to explore, develop and mine coal at Deocha-Pachami block in Birbhum district, which has a reserve of two billion ton.

The sources further revealed that NMDC will pump about Rs 10 billion for the project. It will be a 50:50 joint venture (JV) with WBMDTC.