Government to Start Sale of NMDC’s Nagarnar Steel Plant by March

PTI reported that the Indian Government is likely to invite preliminary bids for the strategic sale of NMDC’s Nagarnar Steel Plant by March 2023. An official told PTI “NMDC’s under-construction steel plant in Chhattisgarh is expected to commence operation this month, and once the demerger process is complete, the Department of Investment and Public Asset Management will proceed with the privatization of Nagarnar Steel Plant. The demerger of NMDC and Nagarnar Steel Plant is in the final stages, and the plant is expected to commence operation this month. We will proceed with appointing merchant bankers thereafter. The preliminary bids or EoI is likely to be invited from bidders by March-end and the sale process will happen in the next fiscal beginning April 2023.”India's largest iron ore miner NMDC is setting up a 3 million tonne per annum steel plant at Nagarnar near Bastar in Chhattisgarh. The unit being constructed over 1,980 acres at an estimated cost of INR 23,140 crore. MECON is providing Procurement Services, Basic Engineering Services, Detailed Engineering Services, Designer’s Supervision Services, Inspection Services, Assistance in Commissioning Services and other General Services. The entire plant is being installed in less than 1,800 acres of land and has the following major facilitiesCoke Oven & By Product Complex -2x7 meter Tall BatteriesSinter Plant- 460 square metersBlast furnace complex - 4,506 cubic metersSteel Melting Shop - 2 xl75 tonne BOF ConvertersLadle furnace - 2 x 175 tonnesRH-OB - 2 x 175 tonnesThin Slab caster - 2 Strand CCHSM