NMDC has incorporated a special purpose vehicle (SPV) company - NMDC Power for the purpose of setting up a power plant for captive power supply to the 3 MTPA integrated steel plant being constructed at Nagarnar. The company has incorporated NMDC Power on December 12, 2011.
NMDC Power is presently a wholly owned subsidiary of NMDC and by virtue of the Companies Act, 1956 it is also a government company. The certificate of commencement of business was issued on December 29, 2011.
Recently, NMDC had signed the contract for By Product Plant package costing Rs 509.00 crore for the upcoming 3 MTPA Integrated Steel Plant at Nagarnar, with the consortium lead by Shriram EPC on January 10, 2012.