State-owned miner NMDC on Wednesday said it is in talks with Japanese companies Nippo Steel and Kobe for two separate projects in India which will see an investment of at least Rs10,000 crore.
“Nippo Steel is negotiating with us on behalf of Japanese Steel Mills for the proposed two million tonnes per annum steel plant in Karnataka. It will be a JV project and likely to cost Rs 10,000 crore,” NMDC chairman and managing director, Mr Rana Som, said. The company also said it is talking to another Japanese steel make Kobe for a project in Andhra Pradesh.
“We are also talking to Kobe for a iron nugget project in Andhra Pradesh. It will be a JV with our recently acquired Sponge Iron India Ltd,” Mr Som said. The company said it will start placing orders for its upcoming steel plant in Chhattisgarh. — PTI