At its board meeting in May, state-run miner NMDC is expected to take a final decision on partnering with either Steel Authority of India (SAIL) or Rashtriya Ispat Nigam (RINL) for its proposed steel project.
It may be recalled that SAIL and RINL evinced interest to partner with NMDC on its proposed Rs 15,525-crore steel project at Nagarnar in Chhattisgarh.
In Februrary, NMDC invited Expression of Interests (EoI) from global steel firms to become a joint venture partner for its 3 million tonnes per annum (mn tpa) project.
According to media reports, NMDC is said to have received only two applications for the EoI that it issued in February.
Some reports indicate that the firm may invite soon a fresh round of EoI in order to attract a wider range of participants. This time, NMDC may offer more stake or even management control to the prospective partner.
Earlier, NMDC had offered to give 49 per cent equity in the project to its prospective partner, not management control.
The tepid response to the proposed project has surprised officials since NMDC’s Nagarnar project is free from the hazards of land acquisition.
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