Team News Riveting
Hyderabad, January 28
National Mineral Development Corporation (NMDC) Tuesday released its capital expenditure (CAPEX) plan of Rs 70,000 crore for the next five years towards augmenting production capacity, building evacuation infrastructure and transforming the digital ecosystem
India’s largest iron ore miner hosted a Vendor Meet in Hyderabad today to share the company’s 100 million tonne per annum (MTPA) roadmap with vendors from across the country. The public sector company promised ease of doing business and in return solicited speed and quality of the highest order from the partners.
Top brass of NMDC – Amitava Mukherjee, CMD (Additional Charge); V Suresh, Director (Commercial); Vinay Kumar, Director (Technical) and senior officers interacted with the network of contractors, consultants and vendors.
Setting the context for the meet, Mukherjee said, “This is not business as usual, 100 million tonnes by 2030 is a priority effort for NMDC and a once in a lifetime opportunity towards building a global mining powerhouse. We are looking at a capital expenditure of approximately Rs 70,000 crore.” He insisted that their partners in progress should take this early head start, make financial arrangements, build up their resource base, deliver on timelines, and bring nothing but the best to NMDC.”
The NMDC team laid out in great detail the upcoming infrastructure and innovation projects of the company in three sessions focused on expansion, evacuation, digital intervention and implementation strategies during the meet, followed by interactions with the vendors.
Delivering the closing remarks, the Director (Technical) of NMDC, Vinay Kumar said: “Our vendors have ensured consistent growth, making NMDC a formidable team! However, it must be told that the aspiration now is to achieve more in the next five years than what we have done in six decades. Collective effort for seamless execution is the only way to realise the goal of 100 million tonnes by 2030.”
NMDC’s target of 100 million tonnes by 2030 is inspired by the vision of the National Steel Policy to build raw material security and self-reliance in the iron and steel sector of India.
