The commissioning of NMDC Limited’s recently demerged steel mill, NMDC Steel, has been postponed until the end of June 2023.
NMDC Limited is India’s largest iron ore miner. With a 3 million tonne yearly capacity, the Nagarnar factory has already failed a number of deadlines, the most recent of which was set by the Steel Ministry for March 31.
NMDC anticipates beginning production by the end of June despite the delays because the coke oven batteries, central plant, power blowing unit, and oxygen plant have all been put into operation. The company’s production and dispatch goal for FY24 is 46–50 million tonnes.
The government’s intentions to sell a 50.79% equity part in NMDC Steel Limited to a private investor will be impacted by the delay.
The government has received multiple responses to the expression of interest, but the divestment will only move forward after commissioning of the mill to secure a better valuation.
