Ministry's move to mega steel plants may affect Rio Tinto's India plans

摘要

The Steel Ministry's move to revive the idea of ultra-mega steel plants through the most profitable company under its charge could put a stop to Anglo-Australian firm Eio Tinto's nearly two-decade old plans to develop a large iron ore mine in India. The Ministry has suggested that National Mineral Development Corporation (NMDC) should work together with Odisha Mining Corporation (OMC) to facilitate the ultra-mega steel plants with ready land, water and mineral linkages, and infrastructure for 5 million tonnes of steel capacity each, to be offered to the highest bidder on the lines of the government's ultra-mega power projects.