Davis Index: Market Intelligence for the Global Metals and Recycled Materials Markets

NMDC is aiming to commission its new 3mn mt annual capacity Nagarnar plant in Q4 FY22 (Jan-Mar 2023). The site is in the Indian state of Chhattisgarh and is to become the NMDC Iron and Steel Plant (NISP or NISB) according to transcripts from a recent investor conference call.

 

The company has begun heating its coke oven for the 4-5 month ramp-up process for the steel mill. 

 

NISP will be a separate entity from NMDC’s Union Cabinet and board-approved divesture of its steel unit is likely to close by H2 2021. 

 

The company’s capital expenditure for 2021-2022 is Rs37.50bn ($506mn) of which 57pc is earmarked for the steel mill project.

 

NMDC is also investing Rs2-3bn on a slurry pipeline in the ongoing fiscal year and another Rs2bn for a third trading plant that is in the planning stages in the 12mn mt annual capacity Kirandul site. The slurry pipeline is expected to be commissioned between July and September 2023.

 

($1=INR74.15)

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