Latest News | NMDC Keen to Invest in Green Energy Capacities: CMD

New Delhi, Jul 10 (PTI) Mining major NMDC has plans to invest in the renewable energy sector, according to its chairman and managing director Sumit Deb.

The company is exploring locations in Telangana to set up solar capacities, Deb told PTI.

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When asked if NMDC is keen to invest in the renewable energy sector, Deb said replied in the affirmative.

"Yes, we have plans. We are looking in Telangana where we have a sponge iron unit," he said, without sharing details about the investment.

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Deb said NMDC may also set up the plant on the land available with its sponge iron unit, which is not operational at the moment.

Located at Paloncha in Telangana, NMDC's sponge iron unit has a capacity 100-tonnes-per-day.

As of now, there is no plan to re-start the plant, Deb said in a reply to another question related to the unit.

Under the Ministry of Steel, NMDC is the country's largest mining company. It had planned to make a foray into the steel sector by setting up a 3 million tonnes per annum Nagarnar Steel Plant (NSP) in Chhattisgarh, at an estimated investment of Rs 23,140 crore.

In October 2020, the Union Cabinet approved the demerger of NSP from NMDC, and the sale of the Centre's entire stake to a strategic buyer.

(The above story is verified and authored by Press Trust of India (PTI) staff. PTI, India’s premier news agency, employs more than 400 journalists and 500 stringers to cover almost every district and small town in India.. The views appearing in the above post do not reflect the opinions of LatestLY)