State-owned steel makers, Steel Authority of India (SAIL) and Rashtriya Ispat Nigam (RINL), have evinced interest to be partner with NMDC for its proposed Rs 15,525-crore steel project at Nagarnar in Chhattisgarh.
NMDC, in February, had invited Expression of Interests (EoI) from global steel biggies to become a joint venture partner for its three million tonnes per annum (Mtpa) project. Failing to catch the fancy of global biggies with 49% equity offer then, the company is likely to invite a fresh round of EoI as early as next month, this time around with more stake or even management control. A decision on this regard would be taken at the company's next board meeting, scheduled to be held for April itself.
The state-owned miner is in a need for joint venture partner, which will stay put on a long-term basis, for its successful operation and maintenance. Meanwhile, NMDC's maiden venture into steel is scheduled to be commissioned by September, 2015.
| 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: