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NMDC is likely to set up a 400 MW power plant in Chhattisgarh to meet the requirements of its upcoming three million tonnes steel plant in the state. For that, the company is looking for a joint venture partner for setting up this plant.
The company will be having a minority stake of about 26% in the proposed plant, while rest of the equity would be held by the joint venture partner. It has also given the freedom to sell rest of the power in open market or within Chhattisgarh to the joint venture partner. The company held discussions with more than 25 interested bidders for the partnership in Hyderabad.
NMDC expects to commission the plant by the end of 2013, so that it meets company’s requirement when its steel plant gets operational. The company is to decide on fuel linkage -- either coal or gas. The company expects about Rs 2,000 crore will be the investment for the proposed plant, because as per the industry parlance Rs 5 crore is required to produce one megawatt power.
At Nagarnar in Chhattisgarh, the Navratna company is making an investment of about Rs 15,000 crore for setting up the integrated steel making facility and had completed the land acquisition in last August. It has also secured all regulatory clearances like environment, forest and water among others and has awarded two packages for the construction of the steel plant. This includes an order of Rs 760 crore turnkey execution of a sinter plant complex there to a consortium of Siemens VAI, SVAI India and NCC. Sinter is a clinker like aggregate normally produced from relatively coarser fine iron ore. This is a highly preferred input in blast furnaces. It improves the operation of blast furnace operation, productivity and reduces coke consumption. At present, more than 70% of hot metal in the world and 50% in India are produced through sinter.
Other than Chhattisgarh, NMDC also has a joint venture with Russia's Severstal plans to set up a 2 million tonne per annum steel plant in Karnataka. Work on the project is likely to start next year.
| Company Name | CMP |
|---|---|
| Coal India | 486.05 |
| NMDC | 258.10 |
| GMDC | 391.10 |
| Sandur Manganese | 530.10 |
| MOIL | 490.15 |
| View more.. | |
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