NMDC shares INR 70,000 crores CAPEX Plan with Vendors
The public sector company promised ease of doing business and in return solicited speed and quality of the highest order from the partners.
Hyderabad: India’s largest iron ore miner hosted a Vendor Meet in Hyderabad today to share the company’s 100 MTPA roadmap with vendors from across the country.
NMDC presented its CAPEX plan of ~ Rs. 70,000 crores for the next five years towards augmenting production capacity, building evacuation infrastructure and transforming the digital ecosystem. The public sector company promised ease of doing business and in return solicited speed and quality of the highest order from the partners.
Top brass of NMDC - Shri Amitava Mukherjee, CMD (Additional Charge); Shri V Suresh, Director (Commercial); Shri Vinay Kumar, Director (Technical) and senior officers interacted with the network of contractors, consultants and vendors.
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Setting the context for the meet, Shri Amitava Mukherjee said, “This is not business as usual, 100 million tonnes by 2030 is a priority effort for NMDC and a once in a lifetime opportunity towards building a global mining powerhouse. We are looking at a capital expenditure of approximately Rs. 70,000 crores.” He insisted that “our partners in progress should take this early head start, make financial arrangements, build up their resource base, deliver on timelines, and bring nothing but the best to NMDC.”
The NMDC team laid out in great detail the upcoming infrastructure and innovation projects of the company in three sessions focused on expansion, evacuation, digital intervention and implementation strategies during the meet, followed by interactions with the vendors.
Read Also : IFCI board approves Rs 500 crore fund infusion through preferential issue of sharesDelivering the closing remarks, the Director (Technical) of NMDC, Shri Vinay Kumar said, “Our vendors have ensured consistent growth, making NMDC a formidable team! However, it must be told that the aspiration now is to achieve more in the next five years than what we have done in six decades. Collective effort for seamless execution is the only way to realise the goal of 100 million tonnes by 2030.”
NMDC’s target of 100 million tonnes by 2030 is inspired by the vision of the National Steel Policy to build raw material security and self-reliance in the iron and steel sector of India.
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