NMDC to invest Rs 3,500 to increase iron ore production

Hyderabad, Apr 8 (UNI) As part of the expansion plans, National Mineral Development Corporation (NMDC) would invest about Rs 3,500 crore for stepping up of iron ore production to 50 million tonnes by 2020.

Talking to newspersons here, NMDC Chairman-cum-Managing Director B Ramesh Kumar said setting up of iron and steel plants was a major diversification planned by NMDC.

Mr Kumar said an Iron and Steel Plant, which would utilise the slimes of the Bailadila projects, was planned at Nagarnar. The company is zeroing in at the appropriate technology for this process very soon, he added.

NMDC was also planning to set up a sponge iron and power plant at Jagdalpur and pellet plants at Bailadila and Donimalai and an integrated steel plant in Chhattisgarh by investing around Rs 9,000 crore.

As coal was an essential raw material for iron and steel plants, NMDC was strategically planning to venture into coal mining, he said adding that, in order to ensure adequate power supply to its projects, NMDC was also planning to set up Windmill in Karnataka.

UNI