NMDC offers land, iron ore to Nippon for Rs 9,500-cr project

Taking forward the proposal to jointly set up a steel plant in Karnataka with Japanese steel major Nippon Steel, state-owned NMDC is learnt to have offered land and iron ore for setting up the project worth about Rs 9,500 crore.

NMDC will provide about 2,500 acres of land, which the Karnataka Government has promised to give it in the Bellary-Hospet region of the state, for the proposed steel plant. In addition, NMDC can provide iron ore as well. In lieu of the land and iron ore, it has asked Nippon Steel to bring its technology to India and fund the joint venture project.