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NMDC to demerger steel plant in Chhattisgarh by Q3/FY22

Monday, 28 Jun 2021
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NMDC is expecting demerger of its three million tpa capacity steel plant being set up in Chhattisgarh to be completed by Q3/FY22.
 
The Board of Directors of the company is expected to give its approval to the draft demerger scheme by 31 July 2021 and once that happens, it will be taken to SEBI and the Competition Commission of India (CCI) for necessary approvals.
 
The commissioning of the steel plant would be during Q3/FY22.
 
The total capital expenditure for it is around Rs 3,700 crore for FY22 out of which Rs 1,500 crore will be spent on the steel plant. NMDC is planning to ramp up production to 44 million tonne in FY22.
 
NMDC is planning to set up a six million tonne capacity pellet plant in Visakhapatnam, Andhra Pradesh.

 

 
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