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NMDC Steel will start production in the next financial year

It is scheduled that NMDC Steel to start steel production at the beginning of the next fiscal year ending March 31, 2024 (FY24).

NMDC Steel will start production in the next financial year

NMDC managing director Sumit Deb informed at a meeting that NMDC Steel is expected to start steel production at the beginning of the next fiscal year ending March 31, 2024 (FY24).

Deb said, "Our goal is to get to work by March 31. Our coke oven batteries are already out, so they're already producing ore. The blast furnace is ready, the central factory is about to be ready. That's why I think we are more or less ready to start operating at the beginning of the next financial year."

Deb said about NMDC Steel's iron ore supply: "There is still no dedicated iron ore mine in Nagarnar's plan. Therefore, at the moment it will supply entirely from NMDC.”

NMDC Steel started operating the first No. 1 coke oven battery in November. The steel company's shares were also traded on the Bombay and National Stock Exchanges (BSE and NSE) as part of the privatization of the unit.

The Nagarnar Steel Plant aims to produce 2.89 million tons of high-quality hot-rolled coils and sheets per year.

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