CCEA approves demerger of Nagarnar Steel Plant from NMDC Limited

CCEA approves demerger of Nagarnar Steel Plant from NMDC Limited

The Cabinet Committee on Economic Affairs has given its in-principle approval to the demerger of Nagarnar Steel Plant (NSP) from National Minerals Development Corporation (NMDC) Limited and strategic disinvestment of the demerged company (NSP) by selling entire Government of India stake in it to a strategic buyer. NSP is a three million tonne per annum Integrated Steel Plant being set up by NMDC at Nagarnar in Bastar District of Chhattisgarh in an area of 1980 acres at revised estimated cost of Rs. 23,140 crore. As on date NMDC has invested Rs. 17,186 crore in the project.