In 1957, ten years after India attained independence and four years before Goa's liberation from Portuguese colonial rule, Madhusudan Datta Kamat Timblo (also known as Modu Timblo ) planted one of the first seeds - Sociedade de Fomento Industrial SARL - for Goan industry. The company was to grow from the initial mining and export of iron and manganese ores into a large, multi-faceted presence that it is today.

In this, the 50th year of Indian independence, Fomento has much to celebrate..... It has branched out into an array of pioneering mining related activities. Mine exploration & production, Mineral dressing, Land and river transportation, Land-out systems, Shipping and stevedoring.
Yes, we have traveled a long way indeed....

Today, we stand alongside the world's leading producers of steel - making raw material in terms of quality and competitiveness. Looking beyond our regular markets, we have tapped the emerging Chinese Steel industry and are now set to make forays into the other up-and-coming steel industry in Asia and elsewhere.

In addition, We have diversified - Bottling and distribution of aerated beverages, Hospitality, Tourism and Trading.

And still, the organization keeps growing... planting seeds... for balanced growth.