Hyderabad: State-owned steel PSU NMDC Limited is set to invest Rs 70,000 crore over the next five years to expand its production capacity to 100 million tonnes per annum (MTPA), the company’s Chairman and Managing Director, Amitava Mukherjee, announced on Tuesday.
“This is not business as usual, it is a priority effort and a once-in-a-lifetime opportunity towards building a global mining powerhouse,” Mukherjee stated.
At a stakeholders’ meet in Hyderabad, NMDC shared its Vision 2030 roadmap and expansion strategies to achieve the 100 MTPA goal. The meeting brought together stakeholders, including vendors, contractors, and consultants from across India.
The company outlined plans for capacity expansion, evacuation strategies, and digital transformation aimed at achieving the target. NMDC also emphasized its commitment to easing business processes and called for speed and quality from its partners.
The target of 100 MTPA by 2030 aligns with the National Steel Policy’s vision to ensure raw material security and self-reliance in the iron and steel sector.
