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NMDC Incorporates SPV Company for Power Plant At Chhattisgarh

  • The country's top iron ore miner National Mineral Development Corporation (NMDC) today said it has incorporated a special purpose vehicle company for setting up a power plant in Chhattisgarh for captive supply to its under-construction steel plant in the state."... The company has incorporated a SPV company by the name of NMDC Power Ltd... for the purpose of setting up a power plant for captive power supply to the 3-MTPA integrated steel plant being constructed at Nagarnar," the state-run company said in a filing to the BSE.The company is a wholly-owned subsidiary of NMDC at present and by virtue of the Companies Act, 1956, it is also a government company, it said.

  • "Certificate of commencement of business was issued on December 29, 2011," the statement added.The miner's first steel venture, the plant at Chhattisgarh is being constructed at a cost of about Rs 15,500 crore and is is expected to be operational by 2014.Yesterday, NMDC announced it has signed a pact with a consortium led by Shriram EPC Ltd (SEPC) for a Rs 509 crore by-product complex at its steel plant at Nagarnar, in Chattisgarh.

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