State-owned miner NMDC is set to invest Rs 7 trillion over the next five years to ramp up its iron ore production capacity to 100 million tonnes (MT) by 2030. The investment will focus on production expansion, evacuation infrastructure, and digital transformation.

India’s largest iron ore producer mined 45.02 MT and sold 44.48 MT in FY24, spending Rs 206.6 billion on capital expenditure—the highest ever and 17% above its target. NMDC’s growth aligns with the National Steel Policy 2017, which aims to increase India’s domestic steel production capacity to 300 MT.

With mines in Chhattisgarh and Karnataka, NMDC supplies crucial raw material to India’s steel industry, including captive and market buyers. The company is calling on its partners to align with its ambitious expansion plan, ensuring financial readiness and timely execution.