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NMDC's new integrated steel plant to contribute USD 1.7 bn

Thursday, 11 Apr 2019
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NMDC’s new integrated steel plant in Chhattisgarh can contribute nearly USD 1.7 billion to topline. The company is also implementing a pipeline project to transport iron ore.

The project will reduce the logistics cost by nearly 55 percent. On the other hand, NMDC is looking to enhance its mining capacity to 64 million tpa from 43 million tpa. The company’s strategic plan to drive growth includes rising focus on increasing iron ore mining capacity, value addition and global presence. NMDC's mining capacity currently is around 43 million tpa and it plans to increase it to 67 million tpa by FY22.

The additional capacity will come from its brownfield and greenfield expansions. The capacity of NMDC's existing operational mines -- Kirandul, Bacheli and Donimalai Kumarswamy will be increased to 52 million tpa from 43 million tpa. Its greenfield mine that has been formed in a joint-venture with the Chhattisgarh Mineral Development Corporation (CMDC) will add 15 million tpa, thus taking the company’s total mining capacity to 64 million tpa.

As part of the value addition project, NMDC is setting up an integrated steel manufacturing plant at an estimated cost of USD 2.22 billion in Chhattisgarh. The plant is expected to go on stream in H2/FY20.

It will produce flat products like HR plates, HR sheets, HR coils, automotive steel and API grade steel to the tune of 2.7 tonne. At 100 percent capacity, the steel plant will contribute USD 1.7 billion to the topline of the company with EBITDA of 25 percent.

The other value addition project is slurry pipeline at a cost of USD 415 million, for Phase-I. The system is intended to transport pellet feed concentrate from Bailadlla to Jagadalpur.

 
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