NMDC to set up 3 MT/year steel plant in Karnataka: Tomar

Public sector mining giant NMDC will establish three million tonnes per annum steel plant in Karnataka in collaboration with the state government at an estimated investment of Rs 18,000 crore, Union Steel and Mines Minister Narendra Singh Tomar said here today.
In order to augment the national steel production to 300 million tonnes per annum by 2025, the central government has proposed to set up four mills through NMDC, SAIL and RINL in Chhattisgarh, Odisha, Jharkhand and Karnataka, he added.
NMDC would increase production from three million tonnes per annum to six million tonnes at a later stage, he told reporters after presiding over the Parliamentary Consultative Committee Meeting on Steel here.

"NMDC will initially install three million tonnes per annum and scale it up to six million tonnes at a later stage," he said.
Tomar said he would meet Karnataka Chief Minister Siddaramaiah in Belagavi to take forward the initiative of signing the MoU between the government and NMDC for setting up the steel plant in the state.
He said he is satisfied over Siddaramaiah initiating the process on allotting captive iron ore mines to public sector KIOCL Limited.

"I am satisfied with the Karnataka Chief Minister over the initiation of process in this regard. We have already discussed the issue of allotment of captive mines to KIOCL," he added.

Tomar said the Geological Survey of India would spend around Rs 166 crore on new exploration during the current fiscal as against Rs 96 crore last year.
The Centre has taken measures to increase exploration of minerals in the country through the Geological Survey of India and Mineral Exploration Corporation of India.
"GSI will spend around Rs 166 crore on new exploration of minerals during the current fiscal as against Rs 96 crore last year," he stated.
The Centre has directed the state governments to expedite the process of setting up district mineral fund in all the states, Tomar said.

An estimated Rs 10,000 crore would be available to be spent on the restoration of environment and rehabilitation of individuals affected by mining across the country during the next one year, he added.