SEBI Reg. Investment Advisor

Download App

MoneyWorks4Me

NMDC to acquire 3,000 acres of land in Karnataka to set up steel plant

03 Sep 2014 Evaluate

In a bid to set up its second steel plant with an annual capacity of 3 million tonnes, NMDC is in the process of acquiring 3,000 acres of land in Karnataka through Karnataka Industrial Areas Development Board (KIADB). The company will invest around Rs 18,000 crore in this plant.

The company has already deposited Rs 158.68 crore with KIADB as the tentative cost of the land plus service charges payable to the state agency. The company has also received approval from the state government for water and power required to the proposed steel plant.

Further, the company is setting up a 3 million tonne per annum (mtpa) steel plant at Nagarnar in Chhattisgarh with Rs 15,525 crore investment.

NMDC is a state-controlled mineral producer of the Government of India. It is fully owned by the Government of India and is under administrative control of the Ministry of Steel.

NMDC Share Price

89.78 2.60 (2.98%)
17-Apr-2026 16:59 View Price Chart
Peers
Company Name CMP
Coal India 438.70
NMDC 89.78
GMDC 733.40
Sandur Manganese 218.35
MOIL 327.60
View more..

About MoneyWorks4Me

MoneyWorks4Me is a SEBI-registered Investment Adviser (IA) dedicated to helping investors build long-term wealth through transparent, research-driven, conflict-free guidance. Founded in 2008, we started our journey as a Research Analyst (RA), providing deep fundamental analysis, intrinsic value insights, and long-term investing frameworks for Indian equities. In 2017, we transitioned to a full-fledged SEBI-registered Investment Adviser, strengthening our commitment to acting as a fiduciary—always putting the investor’s interest first.

Our Vision

To become India’s most trusted, research-powered fiduciary advisory platform—where every investor, regardless of experience, can make calm, confident, and well-reasoned investment decisions.

What Makes MoneyWorks4Me Different

Our Approach: Ensuring compounding work its magic on client portfolio.

MoneyWorks4Me ensures this through:

×