NMDC gets ₹2,000-cr housing projects in Bastar

In order to help the cash-strapped Chhattisgarh Housing Board in the construction of a township for upcoming Nagarnar Steel Plant in Bastar district, NMDC has decided to help build the board's a housing project at an investment worth ₹2,000 crore. In another development, the Chhattisgarh Government has announced that it will to extend the mining lease of NMDC, which has come as a major relief for the mining giant as the lease period was to end in March 2020. The state has also announced a joint venture for diamond prospecting between NMDC and the CMDC in Saraipali Tahsil of Mahasamund district. NMDC's CMD, N Baijendra Kumar, informed that the company will release ₹600 crore immediately to the State government for renewal of mining operations. NMDC produces roughly 70 percent of its total annual iron ore from its mines, whcih are based in extreme leftist insurgency-hit Dantewada district of Chattisgarh.