NMDC is planning to set up a two-million tonne steel plant in Karnataka
with an estimated investment of Rs 16,000-18,000 crore.
The Karnataka Government has already allocated 2,500 acres of land in the
Bellary/Hospet area. It has also obtained the power and water connectivity for
the plant.
The project is likely to be funded through a combination of debt and equity,
and the amount to be raised is to be finalised after the completion of a
detailed project report.
This integrated plant will be NMDC's second steel facility after the proposed
3-million tonne plant in the central Chhattisgarh, which is expected to be
operational by 2014.