An Indian parliamentary oversight committee has sought a status report on government-owned miner NMDC Limited’s three million mt greenfield steel mill project which is facing time and cost overrun, according to a committee report submitted to India’s Ministry of Steel.
The parliamentary committee noted that a status report from the steel ministry is necessary as scheduled completion of the steel mill for December this year is just four months away and it is unlikely that the commissioning date will be achieved.
The committee also noted that, while a capital expenditure of around $ 2.42 billion has been approved by the government, a revised capital expenditure amount is yet it be finalized and approved by the government taking into account the cost overruns suffered owing to the time overrun in completing the project.