Indian state-run miner NMDC Limited and the government of the southern Indian state of Telengana will sign a memorandum of understanding (MoU) to supply iron ore to the proposed greenfield steel mill in the state, a local government official said on Monday, November 11.
The official said that the Indian federal steel minister Dharmendra Pradhan has held meetings with both NMDC and the government of Telegana facilitating the proposed agreement under which raw material linkage would be assured for the new steel mill to be constructed in the Kadapa district of Telengana.
The proposed steel mill in the state would either be constructed by the state government itself or in joint venture with a private steel company, but in either case establishing an assured iron ore linkage would be crucial for the viability of the project; hence, the agreement between the Telengana government and the iron ore miner, the official added.