Andhra Pradesh government has signed a Memorandum of Understanding (MoU) with the National Mineral Development Corporation (NMDC) for supply of iron ore to the proposed integrated steel plant in Kadapa district. An extent of 3,295 acres of land has to be acquired in Jammalamadugu area of Kadapa district for the proposed plant. The proposed plant would be completed within three years and provide employment to about 20,000 persons.
The integrated steel plant will have a production capacity of three million tonnes per annum. It, thus, requires at least 4.5 million tonnes of iron ore every year.
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.
| Company Name | CMP |
|---|---|
| Coal India | 438.70 |
| NMDC | 89.78 |
| GMDC | 733.40 |
| Sandur Manganese | 218.35 |
| MOIL | 327.60 |
| View more.. | |
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.
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.
MoneyWorks4Me ensures this through: