NMDC Ltd. is bullish on the growth prospects of Indian steel industry and geared up to meet the growing iron ore requirements in the country, N Baijendra Kumar, Chairman-cum-Managing Director, said.
Kumar, addressing the 59th annual general meeting, said this citing the National Steel Policy 2017 that aims to achieve a steel production capacity of 300 million tons (mt) by 2030-31. This comes in the back of the envisaged growth in domestic steel demand in all key sectors such as infrastructure, housing and automobile.
The NMDC achieved a record iron ore production of 34 mt and sales of 35.6 mt during 2016-17, an increase of 19 percent and 24 percent respectively year-on-year.
The company plans to increase its production capacity to 67 mt by 2021-22, largely through brownfield expansion of mines and improving evacuation.
This story is from the October 2017 edition of Steel Insights.
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This story is from the October 2017 edition of Steel Insights.
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