NMDC and Severstal sign agreement for 3 million tonnes of finished steel [Dec 2011]

December 22, 2011 10:33 am

India’s largest iron ore miner NMDC and Russian steel maker Severstal signed the Implementation Protocol in Moscow for setting up a joint venture steel plant in Karnataka. The protocol defines the target initial plant capacity which would be 3 million tonnes of finished steel. It also confirms the intention of NMDC and Severstal to fully meet the joint venture’s captive requirements of both iron ore and coking coal so that it becomes fully integrated for these primary raw materials.