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State-owned iron-ore major NMDC Ltd is targeting the commissioner its steel plant in the Q3 or rather early Q4 late Q3 or early Q4 of 2021-22. NMDC during an investor presentation said “We are waiting for the by product plant to get ready and simultaneously we are planning to start the coke oven heating very soon hopefully. It is a four or five month process so that is the target as of now. Let us hope that we will be able to keep it.”
NMDC added “Board has already approved the draft scheme for demerger. Now it is to be filed with these stock exchanges and SEBI. NMDC will be able to file it all with the requisite certificate from the auditors etc.”
Following the demerger, Nagarnar Steel Plant shall be a separate company and the managements of NMDC and Nagarnar Steel Plant shall be accountable for their respective operations and financial performance
NMDC is setting up a 3 million tonne per annum greenfield integrated steel plant based on Hi-Smelt technology under NMDC Iron & Steel Plant at Nagarnar, located 16 km from Jagdalpur in Chhattisgarh state with an estimated outlay of INR 21500 crore.