NMDC has begun work on its proposed steel plant in Chhattisgarh.
The company is investing Rs 15,000 crore to set up a three million tonne steel plant over 2,000 acre. Of the total investment, a sum of Rs 4,000 crore will be spent on import of machinery from overseas. The project is being funded through internal accruals. It will source iron ore from Bailadilla mines. The plant will begin production from 2015 and, initially, the plant will produce hot-rolled products and later some value-added products like cold-rolled.
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