New Delhi: On the heels of Karnataka
clearing the ArcelorMittal and Posco projects worth Rs 62,300
crore in a very short while, the Government-owned NMDC is
planning to appoint a consultant by the month-end to speed up
its Rs 20,000-crore project in the state.
"NMDC is in talks with a few consultants and would
finalise one by the month-end. The consultant would scout and
finalise a site in Karnataka for the steel project," a senior
NMDC official said here today.
The development comes a week after Karnataka cleared one
proposal each from ArcelorMittal and Posco, within a month and
promised them all necessary clearance within three months.
The country's largest miner has been pursuing its plan
to diversify into steel making. The proposed venture in
Karnataka, which the company estimated to be around Rs 20,000
crore, would be its second such project after the Rs
13,000-crore steel plant in Chhattisgarh.
Significantly, unlike Posco and ArcelorMittal, the
Central PSU has not met with any major hurdles yet.
As per the MoU signed with Karnataka early last year,
NMDC would set up 5mtpa steel plant. The firm intends to set
up the project through a joint venture and would start looking
for a partner, domestic or global firm, the source said.
"NMDC will initially set up a 2mtpa plant in Karnataka in
a joint venture and ultimately scale up the capacity to
5mtpa," the source added.
PTI
First Published: Wednesday, January 13, 2010, 21:02