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NMDC-Severstal steel plant likely by 2017

Monday 21st Nov 2011 1372

Lucknow : The proposed steel plant to be set up jointly by state owned National Mineral Development Corporation (NMDC) and Russian behemoth Severstal in Karnataka may be commissioned by 2017.

The 50:50 joint venture project will come up over 2,800 acres of land at Bellary in the southern state.

The land has already been notified and once the final agreement between the two companies is signed next month, the process of land acquisition would start and we hope that the plant is commissioned by 2017," NMDC CMD Rana Som told Business Standard here.

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