NMDC's Board approves demerger of Chhattisgarh steel plant

The Board of Directors of NMDC Limited approved the demerger of its upcoming three million tonne per annum capacity steel plant in Chhattisgarh, the PSU has said.

"The Board of Directors of the company at their meeting held on Thursday the 27th August 2020, inter-alia, have accorded in-principle approval to the proposal to demerge its NMDC Ironand Steel Plant (NISP), Nagarnar, Chhattisgarh," NMDC said in a filing with stock exchanges on Friday.

Recently, Chhattisgarh Chief Minister Bhupesh Baghel urged the Centre not to privatise the greenfield steel plant that is coming up in Bastar district.

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NMDC officials had earlier said the plant is likely to be commissioned next year.