Author: Paul Ploumis31 Mar 2015 Last updated at 07:08:26 GMT
NEW DELHI (Scrap Monster) : The state-owned iron ore mining major, NMDC Ltd , has set ambitious production and sales targets for 2015-’16. Also, it plans to increase the iron ore production by three-folds by 2021-2022. NMDC has set production target of 35 million tonnes and sales target of 38 million tonnes for 2015-’16.
The miner had recently decided to diversify into other areas including steel production, coal mining and manufacture of potash for fertilizers, through joint venture entities. The company targets production volume of 65-75 million tonnes by 2018-’19. Also, it plans to triple its production over the next 5-6 years to surpass 100 million tonnes, stated Narendra Kothari, Chairman and Managing Director of NMDC. With regards to its plans, the company is in the process of preparation of a Vision Document, which is expected to be submitted to the government by May this year.
Kothari also clarified that the 3 MT capacity steel plant at Naganar with an investment of Rs. 15,500 crore would be commissioned by December 2016. Efforts are also underway to increase the output from Mozambique-based International Coal Ventures Limited. The company is also planning to enter into joint venture towards manufacture of potash for fertilizer plants.
Meanwhile, NMDC has started trial production at its Bailadila Iron ore Deposit 11B. The plant is supposed to have annual production capacity of 7 million tonne. The trial runs at the deposit located in Bailadila region of Dantewada in Chhatisgarh state began last Sunday. The company announced that the trial run at 11B project is an important milestone in achieving the company’s 100 million tonnes production target.