State-owned iron ore miner NMDC Limited on Saturday commissioned its 2 million tonne per annum (MTPA) pellet plant at Nagarnar in Chhattisgarh, completing a ₹5,427-crore integrated project linking its mining operations at Bacheli with its steel plant at Nagarnar.
NMDC fell 1.66 per cent to ₹78.24 as of 1.18 PM, with sellers outnumbering buyers, 60.45 per cent of traded quantity on the sell side against 39.55 per cent on the buy side. Traded volume stood at 151.07 lakh shares worth ₹119.51 crore. The stock has declined nearly 10 per cent over the past month and is down 6.43 per cent year-to-date, underperforming the Nifty Midcap 50 index.
The commissioned project comprises three components: a new iron ore processing plant at Bacheli, a 135-kilometre, 15 MTPA slurry pipeline, and the 2 MTPA pellet plant at Nagarnar. The pipeline transports processed iron ore concentrate from Bacheli to Nagarnar, passing through 61 villages across Bastar and Dantewada districts, and is intended to reduce road-based ore movement and dependence on railways.
The pellet plant uses Straight Grate Induration technology to convert iron ore fines and slimes from NMDC’s Bailadila mines into pellets for use in steelmaking. Chairman and Managing Director Amitava Mukherjee monitored the first production run remotely from NMDC’s Hyderabad headquarters due to adverse weather at the project site.
The project extends NMDC’s presence across the iron ore value chain, from mining and beneficiation to pipeline transport and pellet production, and is part of the company’s long-term strategy to scale total iron ore production capacity to 100 million tonnes. NMDC’s current market capitalisation stands at approximately ₹68,787 crore, with a trailing P/E of 9.42.
Published on September 28, 2026
