India’s largest mining company NMDC plans to set up three functional divisions to diversify into the energy, infrastructure and fertilizer sectors. The company plans to set up conventional and non-conventional power projects, steel manufacturing facilities and fertiliser plants under different joint ventures with prospective partners, said a government official. State-owned NMDC is under administrative control of the steel ministry.
“The company plans to form three separate verticals, each will be headed by expert CEOs. Respective verticals will forge alliances with private and public sector companies specialising in respective fields,” said the official requesting anonymity. The move is part of NMDC’s ambitious strategy to diversify its activities beyond mining and become a fully-integrated entity in the metals and mining space, he said. The company has already set up its foreign division NMDC Global to look after acquisition of iron ore properties in overseas markets.
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