State-owned iron ore miner NMDC’s Rs 18,000 crore integrated steel plant coming up at Nagarnar in Chhattisgarh, is likely to be completed by December. The 3 million tonne annual capacity plant is likely to reach 50% production level in the first year itself and at the end of second year it would be 80% plus.
The company had completed capital expenditure of Rs 1,434.55 crore till September 2016, of which Rs 1,222.65 crore has been invested in Nagarnar steel plant, Rs 17.39 crore on pallet plant at Donimalai, Rs 75 crore in doubling of KK lines, Rs 7.21 crore on Kumarswamy Mine and Rs 4.76 crore in Bailadilla Deposits.
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.