Director (finance) of the company Amitava Mukherjee said the cost of the upcoming three-million tonne capacity steel plant would go up to Rs 19,000 crore against the estimated over Rs 15,500 at the time of conception.
Iron ore mining major NMDC Ltd and Kopano Logistics Services (Proprietary) Ltd (BEE partner) have established a 50:50 joint venture company by the name Kopano-NMDC Minerals (Pty) Limited to undertake exploration and development of mineral properties in South Africa.
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.
Shares in state-run miner NMDC fell 1.8 percent in early trade after sources said the government may on Tuesday announce a floor price for the NMDC issue in a range of Rs 145 to Rs 150 a share.
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