India takes steps to make Ultra Mega Steel Plants a reality Prime Minister Mr. Manmohan Singh led National Manufacturing Competitiveness Council has entrusted iron ore maker NMDC with the task of creating the basic infrastructure for the first ultra mega steel plant with 12 million tonne per annum capacity. NMDC, however, would not have any stake in the project and its role is restricted to creating the infrastructure and offering it to steel producers on competitive basis. The sources said that “NMDC would procure land, get clearances like environment and forest approvals ensure raw material linkage among other things. The miner would be allowed to be a part of the mining project which would be mainly linked with the steel plant.” The plan, which is aimed at removing hurdles that private sector steel makers face in creating additional capacity, is a step in the direction to achieve 300 million tonne capacity by 2025, a target recently set by the Prime Minister led panel. Sources said that NMDC Board has also approved the proposal. The miner is likely to start the job at the site of its now discarded joint venture project with Severstal in Karnataka. NMDC had in 2010 signed a deal to form a joint venture with the Russian steel maker to set up a 3 million tonne per annum steel plant. It is already in possession of some parcel of land, besides clearances from the environment and forest departments. The iron ore miner may tie up with Industrial Development Corporation of other states in the coming days for forming such special purpose vehicles that would create the infrastructure for such ultra mega steel plants.
Posted on: Sun, 25 Aug 2013 05:56:57 +0000
Trending Topics
Recently Viewed Topics
© 2015