MoneyWorks4Me

NMDC to spend Rs 2,720 crore for expansion in FY14

26 Jun 2013 Evaluate

NMDC, the state-owned miner is planning to increase its capex by about 70% to Rs 2,720 crore in FY14, as against Rs 1,607 crore spent on expansion in 2012-13. The company will utilize a major part of these funds on its upcoming steel project in Chhattisgarh.

The company is planning to invest Rs 1,880 crore on the steel plant in 2013-14, Rs 251 crore on expansion and modernisation of its mining units, Rs 100 crore on doubling of railway line between Kirandul and Jagadalpur among others.

The company has also embarked Rs 607.17 crore to spend on Baildalia iron ore project, Rs 898.55 crore on Kumaraswamy iron ore project to raise iron ore production capacity. Further, its Rs 572 crore investment on Donimalai pellet plant is nearing completion.

Peers
Company Name CMP
Coal India 425.00
NMDC 73.80
Ashapura Minechem 491.45
Sandur Manganese 177.05
GMDC 487.05
View more..