NMDC may invest Rs 40,000 cr ($8 billion) in 8 years for...

NMDC may invest Rs 40,000 cr ($8 billion) in 8 years for capacity expansion

State-owned NMDC Ltd plans to invest Rs 40,000 crore in the next eight years to reach a target of 100 million tonnes per annum of iron ore production from the current levels of little over 30 MTPA.

Besides, the company is in the process of setting up a small gold refinery in Tanzania, NMDC's Chairman and Managing Director Narendra Kothari said.

"The total investment will be Rs 40,000 crore in the next eight years. Our vision is to achieve 100 MTPA by 2025. The investment will go into developing new mines, Steel Plant, Legacy Iron ore company (in Australia) and Slurry Pipe line 9 from (Kirandul to Vizag), among others," Kothari told reporters on the sidelines of NMDC's Annual General Meeting here.

http://www.business-standard.com/ar...rs-for-capacity-expansion-115092900718_1.html

Yes the word 'may' is in the headline.
GLTA