Home News Industry News NMDC to invest $1 billion on Infrastructure

    NMDC to invest $1 billion on Infrastructure

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    NMDC

    National Mineral Development Corporation Limited (NMDC Ltd) plans to invest about $1 billion on infrastructure in the coming next three years to help upgrade iron ore production.

    The cost of the upcoming three-million tonne capacity steel plant would go up to Rs 19,000 crore against the estimated over Rs 15,500 at the time of conception. The iron ore miner has already invested nearly Rs 14,500 crore on the plant.

    The manufacturing of steel-making would go from the current capacity of 146 million tonnes per annum to 300 MTPA. The production of steel-making would go from the current capacity of 146 million tonnes per annum to 300 MTPA.

    The company is creating a rapid wagon-loading system for evacuation and setting up a new slurry pipeline at Bailadilla in Chhattisgarh. This process is also used in doubling of railway line between Kirundul and Kothavalasa (KK line).

    The PSU is also setting up concealing plants in Karnataka and Chhattisgarh. On the upcoming steel plant in Chhattisgarh, Mukherjee said the company was investing Rs 2,000 crore and its commissioning was expected before the end of this fiscal.

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