Moneycontrol
Aug 13, 2017 11:53 AM IST | Source: PTI

Set up 3-mt NMDC steel plant by Dec: Par panel to SteelMin

According to the report, the committee was dismayed that revised capital expenditure is still under the process of finalisation despite approved capital outlay of Rs 15,525 crore.

Set up 3-mt NMDC steel plant by Dec: Par panel to SteelMin

Taking note of delay in setting up of a 3-million tonne steel plant by the state run National Mineral Development Corporation (NMDC) in Chhattisgarh, a parliamentary panel has asked the Ministry of Steel to get cracking and ensure the job is done by December.

"The project was anticipated to be completed by May 2015. The revised anticipated completion has been shifted to December 2017," the standing committee on coal and steel chaired by Rakesh Singh said in its latest report tabled in Parliament.

According to the report, the committee was dismayed that revised capital expenditure is still under the process of finalisation despite approved capital outlay of Rs 15,525 crore.

It called on the ministry to take remedial steps to make sure there is no further delay in completion of the project.

The panel has also asked for progress status, with only four months away from the target.

It sought information on the money spent on the project since its inception and the cost overrun till date.
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