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.
