BL reported that National Mineral Development Corporation will be inviting expression of interest bids from global and domestic steel majors by end December to partner with it for setting up a 5 million tonne steel plant at Bellary in Karnataka.

The country's largest iron ore miner is keen to set up the plant at an estimated cost of INR 9,280 crore through a joint venture with a steel company that would bring in equity as well as technology.

Mr Rana Som CMD of NMDC told Business Line that "Initially, we plan to set up the plant with a 2 million tonne capacity and later ramp it up to 5 million tonne. Given availability of adequate infrastructure in terms of land, water and raw materials, we may think of enhancing the capacity to even 10 million tonne. But this is still at the nascent stage.”

(Sourced from Business Line)