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NMDC to raise capacity to 48 mt by FY '15

HYDERABAD, Sep 27, 2013, dhns: 22:01 IST
NMDC wishes to increase its iron ore production capacity from about 32 (million tonnes) mt to 48 mt by 2014-15 NMDC Chairman and Managing Director C S Verma said at the company’s 55th Annual General Meeting held here on Wednesday.

Informing shareholders about the performance of the company during the year, Verma said, “I am happy to announce that the total dividend of 700 per cent on the paid up equity share capital for the year 2012-13 is the highest ever dividend payout made by the company in its history which shows our commitment towards maximisation of shareholders wealth.”

He also informed about the increase of net worth of the company to Rs.27,505 crore as on 31 March 2013, 13 per cent higher than Rs 24,396 crore in the previous financial year.

He informed that NMDC is the second iron ore mining company in India and the first CPSE under the administrative control of ministry of steel to be included in CNX NIFTY Index on 1 April 2013.

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