Press Information Bureau
Government of India
Ministry of Steel
09-August-2012 18:09 IST
Joint Venture Steel Plant with Russian Company

The Minister of Steel, Shri Beni Prasad Verma has said that NMDC Limited and M/s Severstal (a Russian company) have signed a Memorandum of Understanding (MoU) for setting up of a three million tonne per annum steel plant in Karnataka under Joint Venture.

In a written reply in the Rajya Sabha today he said, NMDC has since initiated necessary action and approached the Government of Karnataka for allocation of land and other utilities like water, power, etc. As it is a major project no time line can be indicated at this stage.