NMDC to invest $5 bn to expand iron ore capacity

NMDC to invest $5 bn to expand iron ore capacity

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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