State-owned major iron-ore producer, National Mineral Development Corporation (NMDC), has sent a proposal for setting up a 10 million tonne integrated steel plant in Karnataka with an investment of around Rs 40,000 crore. The Navratna PSU has requisitioned 4,000 acres of land and has sought approval for water supply and mineral linkages for the project.
The company is also in the process of setting up a 3 million tonne steel plant at South Bastar district in Chhattisgarh with an investment of Rs 14,000 crore. It is also planning to open 0.8 million tonne pig iron plant in Chhattisgarh with an investment of Rs 1,600 crore.
NMDC has earmarked Rs 19,869 crore for expanding its iron ore production to 50 million tonnes in next five years from 30 million tonnes at present.