NMDC, Tata Steel in talks for steel plant
The state-run NMDC Ltd has decided to set up its second steel plant in central India through a joint venture and is in talks with two companies one of which is Tata Steel, the Business Standard reported on Sunday.
January 23, 2011 / 13:52 IST
The state-run NMDC has decided to set up its second steel plant in central India through a joint venture and is in talks with two companies one of which is Tata Steel, the Business Standard reported on Sunday.
"We have decided to set up a 2 million tonne steel plant in Chhattisgarh, apart from the 3 million tonne plant that we are working on," the newspaper quoted NMDC Chairman and Managing Director Rana Som as saying.Som refused to name the partner, the report said."I am not going to announce the name right now. All I can say is that it is a 2 million tonne steel plant and will be set up in a joint venture," the reported quoted Som as saying.Tata Steel, the world's No. 7 steel maker, was one of the two companies, the report said citing an unidentified official.NMDC and Tata Steel had signed a memorandum of association in January last year, which, apart from other things, said the two would build steel plants together, the report said. Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
