State-run National Mineral Development Corporation Ltd (NMDC) is expecting the demerger of its 3 mn t/annum steel plant at Nagarnar in Chhattisgarh by the third quarter of FY’22, senior officials have informed. The Board of Directors of NMDC is expected to give its approval to the draft demerger scheme by 31 Jul’21 and after that it will be taken to SEBI and the Competition Commission of India for necessary approvals. NMDC is targeting 44 mn t of iron ore production in FY’22 on increased volumes from the company’s Karnataka mines.
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