NMDC MAY WAIT TILL LATE FY22 FOR STEEL PLANT DEMERGER

NEW DELHI: Country's largest iron ore producer NMDC may have to wait till the end of monsoon this year before commissioning its three million ton steel plant and initiating the p rocess of its demerger and subsequent disinves tment.

Sources said though 3mt steel plan t may be commissioned in July -August, 2021 as per management, it could be delayed beyond monsoon and is likely to coincide with the demerg er of the steel plant.

This would allow for completi on of work on a byproduct un it and coke oven batteries. So, the demerger process itsel f may get extended to late this year or in the first quarter of calendar year 2022, said the sources. The Board of Directors o f the NMDC in August had already acco rded inprinciple proposal to demerge the NSP with itself. The NSP is a three million ton per annum (mta) Integrated Steel Plant being set up by the NMDC at Nagarnar in Chhattisgarh's Bastar district.