Sify.com reported that Rashtriya Ispat Nigam has proposed to acquire Bird Group of Companies including its Orissa Mining Development Corporation, to secure iron ore reserves for expansion and is willing to invest INR 500 crore to revamp OMDC's operations.
The report cited Mr PK Bishnoi CMD of RINL as saying that "We do not have captive mines and are forced to procure ore from the market at sky high prices. So, we have proposed to take over the entire BGC, including OMDC, which has iron ore reserves of 130 million tonnes to meet our growing production needs.”

He said steelmakers with iron ore security have a better turnover, while companies like his take a serious hit on their turnover. He said "I have to buy iron ore from the market at around INR 3,000 per tonne, which is a pretty high price. RINL's profits could have been higher by INR 1,000 crore, if we had captive mines.”

Mr Bishnoi said RINL is willing to invest about INR 500 crore to overhaul OMDC, which is not in good shape. He added RINL would like to use its expertise in prospecting more fields to figure out additional ore reserves in OMDC.

Bird Group of Companies has seven companies in its fold
1. OMDC
2. Bisra Stone Lime Company Ltd
3. Karanpura Development Company Ltd
4. Scott and Saxby Ltd
5. Eastern Investments Ltd
6. Burrakur Coal Company Ltd
7. Borrea Coal Company Ltd.

OMDC, which was incorporated in 1918, is one of the oldest iron ore mining companies. It has mines around Barbil town in Orissa.