NMDC's Ambitious Rs 70,000 Crore Capex Plan for Iron Ore Future

NMDC, India's largest iron ore miner, plans a Rs 70,000 crore investment over five years to build long-term assets. At a recent Hyderabad vendor meet, NMDC shared its Vision 2030 strategy aiming for 100 million tonnes of production facilitated through stakeholder collaboration for expansion, transformation and efficiency.

In a bold move towards securing a robust future in iron ore production, state-run mining giant NMDC has unveiled plans for a massive Rs 70,000 crore capital expenditure over the next five years.

In a landmark event held in Hyderabad, the country's largest iron ore miner engaged vendors in an unprecedented meet, with Amitava Mukherjee, CMD (Additional Charge) of NMDC, lauding them as 'Partners in Progress'. This strategic meeting outlined the company's ambitious projects, all anchored by a substantial capex plan.

As part of its Vision 2030, NMDC detailed transformative strategies including expansion plans, logistical enhancements, and digital initiatives targeting a 100 million tonnes production goal by 2030. Reaffirming the government's National Steel Policy, the company is set on ensuring self-reliance and security in India's iron and steel sector, promising efficient operations and high-quality collaboration with its partners.

(With inputs from agencies.)