You are here: Home > Steel News > Latest Steel News > India’s...

India’s NMDC Steel expects output of 1 million mt from greenfield mill in FY 2023-24

Tuesday, 28 November 2023 12:13:50 (GMT+3)   |   Kolkata
       

India’s NMDC Steel Limited (NSL), which fired up the blast furnaces at its 3 million mt per year capacity greenfield steel mill in August this year, expects to achieve crude steel production of 1 million mt by the close of the current fiscal year on March 31, 2024, company sources said on Tuesday, November 28.

The steelmaking subsidiary of government-run iron ore miner NMDC Limited will be able to hit break-even at a production level of 2 million mt, the sources said.

They said that shortage of availability of limestone is a significant challenge to increasing production, but the company is confident of maintaining margins of at least 40 percent from its current steel production.

As production levels increase over the next fiscal year, operational costs will decrease and margins from earnings before interest, depreciation, and amortization will also improve, the sources said.


Similar articles

India’s Ministry of Steel likely to invite bids for privatization of NMDC Steel

30 Aug | Steel News

India’s NMDC Steel achieves 1 million mt HRC output in less than a year of commissioning

27 Aug | Steel News

India’s NMDC Steel achieves one million mt of crude steel output within one year of firing BF

16 Aug | Steel News

India’s steel ministry likely to revisit option of mega merger of government mills after elections

28 Mar | Steel News

India’s NMDC Steel to achieve breakeven in mid-FY 2024-25

28 Feb | Steel News

India’s RINL and NMDC ink long-term iron ore supply contract

27 Dec | Steel News

RINL’s forged steel wheels unit likely to be transferred to SAIL

26 Oct | Steel News

India may scrap plans for privatization of NMDC Limited’s steel mill

23 Oct | Steel News

India’s NMDC resumes iron ore supplies to RINL

11 Oct | Steel News

India’s NMDC Steel Limited produces first HRC nine days after starting blast furnace

25 Aug | Steel News