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NMDC plans Rs 9,200-cr steel plant
Date: 04-06-2010The Government-owned NMDC plans to set up a five-million tonne integrated steel plant in Karnataka at an investment of Rs 9,200 crore. The company is on the look out for a joint venture partner in
Initially, NMDC would start with two million tonnes. The company has about Rs 14,000 crore cash in its kitty. The Karnataka Government has in principle agreed to give 2,500 acres for the project.
The company currently uses about six million tonnes of iron ore from Karnataka and plans to secure an additional mine for the proposed project. The company is also setting up a plant in Chhattisgarh. crackcrack