NMDC sanctions ₹6,500cr for plant in Chhattisgarh

The National Mineral Development Corporation (NMDC) has recently decided to invest ₹6,500 crore in the current and next fiscals as the company is all set to start production from its upcoming 3-million tons per annum capacity steel plant at Nagarnar in Chhattisgarh, chairman and managing director, NMDC, Baijendra Kumar, said adding that the company invested ₹2800 on capital expenditure in the last fiscal and this year it will be investing ₹3185 crore and ₹3290 crore in the next financial year. On the commencement of production from the steel plant, he said the Coke Oven is being lit in the next few days and the Blast Furnace would start in another three months. After starting the Blast Furnace, it will be making pig casting machine and a litter after that the company is planning to start the first coil (steel). Within one year from that time it will ramp up the production capacity to three million tons per annum. In totality, NMDC has spent ₹14,182 crore so far on the steel plant in the state.