Commissioning of NMDC’s Nagarnar steel plant in Chhatisgarh is likely to be completed by July 2021 suggest media reports. At a recently concluded virtual Annual General Meeting, the company shared the update with its stakeholders.
The Rs210bn steel plant will have an annual capacity of 3mn mt. NMDC had earlier planned to commence production at the plant by the end of 2020.
Foreign experts engaged in the project could not visit India for inspection and clearance due to travel restrictions amid the COVID-19 pandemic.
The plant is expected to generate annual revenue of Rs140-150bn at the optimum production levels. The company’s Board of Directors also recently approved the proposal to demerger this steel plant.
($1 = Rs73.7368)