NMDC firms up capex for next two financial years

India’s largest iron-ore miner, NMDC, has earmarked a capital expenditure (capex) of $902-million over the next two financial years. NMDC has committed this investment even as the miner is on verge of starting commercial production of its three-million-ton greenfield steel plant in the central Indian province of Chhattisgarh entailing an investment of $1.94-billion, NMDC chairperson Baijender Kumar said after the company’s annual general meeting.