NMDC in talks with Nippon, Kobe for two ventures in India

State-owned miner NMDC today said it is in talks with Japanese companies Nippon Steel and Kobe for two separate projects in India, which will see an investment of at least 10,000 crore.

"Nippon Steel is negotiating with us on behalf of Japanese Steel Mills for the proposed two million tonnes per annum steel plant in Karnataka. It will be JV project and likely to cost Rs 10,000 crore," NMDC chairman and managing director Rana Som told reporters here.

The company also said it is talking to another Japanese steel make Kobe for a project in Andhra Pradesh.

"We are also talking to Kobe for a iron nugget project in Andhra Pradesh. It will be a JV with our recently acquired Sponge Iron India Ltd," Som said.

Further, the company said it will start placing order for its upcoming three million tonnes per annum steel plant in Chhattisgarh from October onwards.

"We plan to complete the construction of our integrated steel project in Chhattisgarh in the next 40 months from the date of placing the order," he added.