NMDC to set up I

New Delhi, Feb 11 (UNI) Despite threats from Maoists, public sector National Mineral Development Corporation (NMDC) produced 20.1 million tonnes of iron ore during April-December 2007, recording a 12.5 per cent growth over the same period last year.

The PSU, recently granted navratna status, also surpassed the target set in the Memorandum of Understanding by 6 per cent. NMDC sold 19.86 million tonnes of iron ore during April-December 2007-08 against 17.49 million tonnes during the same period in 2006-07.

During the period, the company earned net profit of Rs 2,234.01 crore compared to Rs 1,609.20 crore in the previous year.

Making a presentation at the performance review meeting chaired by Minister for Steel, Chemicals and Fertilisers Ram Vilas Paswan, NMDC Chairman Rana Som said transport bottlenecks and threats from Maoists has led to shortfall in despatch of iron ore.

He said the company will set up an Investigation and Exploration Centre at Raipur. The Centre will assist state governments in mineral exploration activities free. Mr Som said recruitment for the centre has already started.

Lauding NMDC for getting navratna status and continued excellent performance, the Minister said, it should complete all its expansion projects in a time bound manner. Mr Paswan also assured NMDC that he will take up the issue of availability of railway rakes with the Ministry concerned.

Mr Paswan asked the company to expedite the complementation of its activities under the Corporate Social Responsibility.

UNI SD BJR KN1910