NMDC will set up a green-field 3-million tonne per annum (MTPA) steel mill in Karnataka jointly with the state government at an estimated investment of Rs 18,000 crore. A special purpose vehicle (SPV) to implement this project will be set up very soon between the company and the state government. The public sector mining giant will initially install 3 MTPA steel mill and scale it up to six million tonnes per annum in the second phase.
The central government is taking steps to increase the national steel production to 300 million tonnes per annum by 2025. To achieve this goal, it has been proposed to set up four new steel mills in the public sector through NMDC, SAIL and RINL in Chhattisgarh, Odisha, Jharkhand and Karnataka.
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.
