NMDC to acquire 3,000 acres of land in Karnataka to set up steel plant

In a bid to set up its second steel plant with an annual capacity of 3 million tonnes, NMDC is in the process of acquiring 3,000 acres of land in Karnataka through Karnataka Industrial Areas Development Board (KIADB). The company will invest around Rs 18,000 crore in this plant.

The company has already deposited Rs 158.68 crore with KIADB as the tentative cost of the land plus service charges payable to the state agency. The company has also received approval from the state government for water and power required to the proposed steel plant.

Further, the company is setting up a 3 million tonne per annum (mtpa) steel plant at Nagarnar in Chhattisgarh with Rs 15,525 crore investment.

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.