After tying up with several PSUs for securing coal assets abroad, NMDC is looking for a partner to acquire dry fuel properties within the country to feed its its proposed steel, pellet and power plants.
As the Navratna firm is looking for backward integration, it wants the partnering firm to supply power as well.
"We want to partner a company having exposure in the coal and the power sectors. We want a regular supply of coal and power for our pellet plants, steel units and for developing our own power units," NMDC Chairman and Managing Director Rana Som told PTI.
The partnering firm should have a minimum networth of Rs 750 crore and is capable of setting up power plants, he said.
"We want to acquire coal blocks with the partner and jointly develop the property. We will look to share coal if our partner is in possession of the property and even develop his assets further," Som said.
NMDC is looking to secure raw material security as it goes expanding in the steel sector. It has announced setting up 3 MTPA unit in Chhattisgarh and has proposed to establish a 10 MTPA greenfield project in Karnataka. Besides, it is setting up plants to form iron ore pellets which will be used by sponge iron manufacturers.
"I want to acquire power at reasonable cost. NMDC needs power to feed its existing facilities and lined up projects," he said.
The state-run entity has today issued a tender to acquire and develop coal assets in public-private partnership mode.
