NMDC to invest Rs 70,000 crore for capacity expansion by 2030

New Delhi: Navratan state-owned steel PSU NMDC Limited is planning to invest Rs 70,000 crore over the next five years to ramp up its capacity to 100 million tonne per annum, CMD Amitava Mukherjee on Tuesday said.

"This is not business as usual, it is a priority effort and a once in a lifetime opportunity towards building a global mining powerhouse," he said.

The company, which hosted a stakeholders' meet in Hyderabad on Tuesday, leveraged the platform to share its roadmap and strategies for Vision 2030, towards the goal of achieving 100 MTPA capacity.

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NMDC interacted with its stakeholders- vendors, contractors and consultants - from across the country, the company said in a statement.

Detailed information on the expansion plans, evacuation strategies and digital transformation to achieve the goal were shared in the meeting.

The company promised ease of doing business and solicited speed and quality from the partners.

NMDC's target of 100 MTPA by 2030 is inspired by the vision of the National Steel Policy to build raw material security and self-reliance in the iron and steel sector.

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