NMDC plans special purpose vehicles with state govts to set up steel plant

Public sector mining major NMDC will have Special Purpose Vehicles (SPVs) with the governments of Jharkhand and Karnataka to set up steel factories. 

Its annual report said so. Company officials were not available for comment. 

Its SPV in Jharkhand has already selected the site and applied for allocation of land, water and power. In Karnataka, NMDC says, it has acquired around 2,800 acres. 

NMDC has also sought (from the Union government) iron ore allocation in Jharkhand and Karnataka for this purpose. 

After land acquisition, water and power allocation and iron ore linkage, the SPV will invite a strategic partner to develop and construct the