India’s NMDC Steel Limited (NSL), the steel mill subsidiary of NMDC Limited, will achieve breakeven around the middle of the fiscal year 2024-25, a company official said on Tuesday, February 27.
The official said that NSL, which fired its blast furnace in August 2023, would achieve breakeven with stabilized production of 168,000 mt of crude steel per month or selling around 5,000 mt of hot rolled coil (HRC) per day, and this will happen sometime around the middle of the fiscal year 2024-25 or in the second quarter.
NSL’s steel mill located in the central state of Chhattisgarh has an installed capacity of 3 million mt per year.
“Once we are able to roll around 5,000 coils per day, we could look at breakeven by that time. So, we need to ramp up by another 60-70 percent or so,” NMDC Limited chairman Amitava Mukherjee said in a statement.
However, there are challenges that include constraints in terms of rake movements, securing lime for steelmaking, among others, he said.