Hyderabad: National Mineral Development corporation is planning to achieve an ambitious three-fold increase in capacity to 100 million tonne and to increase the production of steel, coal and potash fertilizer.
Chairman and managing Director Narendra Kothari said the plan of production like 65-75 MT iron ore capacity by 2018-19 and 100 MT by 2021-22 for new mines was planned.
For the year 2015-16 the steel production target might be 35 MT and sales 38 MT, Mr Kothari said. They also have the cash reserves of over Rs 20,000 crore and setting up a 3MT steel plant.
“We are looking at fertilizer mineral potash”, Mr Kothari said. According to the managing director Viresh Oberoi, is a joint venture of Tata steel and sail and other e-services.