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NMDC to invest $5 bn to expand iron ore capacity

NMDC to invest $5 bn to expand iron ore capacity
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First Published: Wed, Aug 05 2009. 10 45 PM IST
Updated: Wed, Aug 05 2009. 10 45 PM IST
Mumbai: India’s largest iron-ore producer, NMDC Ltd, said it plans to invest $5 billion (Rs23,850 crore) in the next five years to expand capacity and enter the steel-making business.
The company plans to lift output 67% to 50 million tonnes in three years, chairman Rana Som said on Wednesday. NMDC, which aims to construct a factory in Chhattisgarh, is also planning to build a factory in Karnataka.
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First Published: Wed, Aug 05 2009. 10 45 PM IST
More Topics: NMDC | Iron ore | Steel | Karnataka | Chattisgarh |