Torrent Power on Monday pledged Rs 64,000 crore investment for green or renewable energy projects having employment potential for 26,000 people
 

New Delhi: Torrent Power on Monday pledged Rs 64,000 crore investment for green or renewable energy projects having employment potential for 26,000 people.

Torrent Power Ltd, the integrated power utility of diversified Torrent Group, has reaffirmed its commitment towards green and sustainable future as it submitted two 'Shapath Patras' to the Union Ministry of New and Renewable Energy at the 4th Edition of RE-Invest at Gandhinagar on Monday, a company statement said.

RE-INVEST is being organised by the Ministry of New and Renewable Energy in partnership with CII.

According to the statement, the company has submitted a ‘Shapath Patra’ to achieve 10 Gigawatt (GW) of installed Renewable Energy (RE) capacity by 2030, with an investment of Rs 57,000 crore.

This investment is expected to generate direct and indirect employment for around 25,000 people.

As part of these commitments, Torrent Power on Monday signed a Memorandum of Understanding (MoU) with the Gujarat Government for execution of a 5 GW solar, wind or solar-wind hybrid project at Dwarka, in Gujarat.

For next generation energy reforms, Green Hydrogen is an important element, which is slated to play a critical role in achieving net-zero emissions and decarbonizing hard-to-abate sectors.

Torrent Power is actively pursuing opportunities to develop Green Hydrogen and Green Ammonia Production projects to cater to the export and domestic markets.

The second 'Shapath Patra' was submitted for setting up 1,00,000 Kilo Tonnes Per Annum (KTPA) Green Ammonia production facility with an investment of Rs 7,200 crore and employment generation for around 1,000 people.

"As one of India's largest private sector power utilities, Torrent Power stands committed to contributing to the nation's RE journey," Samir Mehta, Chairman of Torrent Group said.

This commitment not only underscores our dedication to advancing green energy solutions but also highlights the fact that our business operations are aligned with national priorities, he said.

Increased penetration of Solar and Wind in electricity generation will create a need for energy storage solutions for providing firm, reliable and dispatchable Renewable Energy (RE) power.

Torrent Power has identified Pumped Storage Project (PSP) sites in multiple states. The company has already announced that it intends to install about 5 to 8 GW of PSP capacity entailing investment of Rs 25,000 crore to Rs 35,000 crore.

Torrent Power has a track record of successfully commissioning and operating large infrastructure projects.

Reliance Power on Monday announced that it has secured a battery storage contract of 500 MW through the e-reverse auction (eRA) conducted by SECI

New Delhi: Reliance Power on Monday announced that it has secured a battery storage contract of 500 MW through the e-reverse auction (eRA) conducted by the Solar Energy Corporation of India (SECI).

The auction, held on September 11, 2024, is part of SECI's initiative to enhance energy storage capabilities across the country.

The contract involves the installation of a total of 1,000 MW of standalone BESS units, awarded on a build-own-operate (BOO) model for "On Demand" usage under a tariff-based competitive bidding process.

Reliance Power has secured 500 MW MWh of this capacity, marking a significant entry into the renewable energy and storage sector, a company spokesperson said.

The competitive bidding saw Reliance Power submitting a tariff bid of Rs 3.81999 lakh/MW/month.

This new tariff benchmark represents one of the lowest rates for BESS tenders at the 400 KV level in India to date.

The delivery point for the project shall be 400 kV Fatehgarh(ATL) PS, Rajasthan. The scheduled commissioning date for the full capacity will be 24 months from the effective date of the BESPA (Battery Energy Storage Purchase Agreement).

The auction process witnessed participation from several key industry players.

Reliance Power’s successful bid highlights the company's strategic shift towards renewable energy and storage solutions, promising increased competition and efficiency in the sector. The introduction of such competitive tariffs is expected to set new standards and drive further advancements in India's energy storage capabilities.

The IREDA pavilion, themed "Responsible for Renewables," showcased the company’s commitment to sustainable development and its strategic focus on financing renewable energy projects

New Delhi: The Prime Minister of India Narendra Modi on Monday visited the Indian Renewable Energy Development Agency Limited (IREDA) pavilion at the 4th Global Renewable Energy Investor’s Meet and Expo (RE-INVEST) at Mahatma Mandir, Gandhinagar, Gujarat.

IREDA CMD Pradip Kumar Das welcomed the Prime Minister and provided an overview of IREDA’s 37-year journey as the nation's leading green financing NBFC. Das shared IREDA's vision to lead sustainable development, connect people with green energy, and help achieve the country’s renewable energy targets.

PM Modi was accompanied by the Union Minister for New and Renewable Energy Pralhad Joshi; the Governor of Gujarat Acharya Devvrat; the Chief Minister of Gujarat Bhupendra Patel; and MNRE Secretary Bhupinder Singh Bhalla and other dignitaries. The dignitaries commended IREDA for its pivotal role in financing India’s green transition and supporting the Government of India's 500 GW non-fossil fuel installed capacity target by 2030.

The IREDA pavilion, themed "Responsible for Renewables," showcased the company’s commitment to sustainable development and its strategic focus on financing renewable energy projects aligned with country's Panchamrit targets for 2030 and the Viksit Bharat 2047 vision.

Das expressed his honour to welcome the Prime Minister, reaffirming IREDA’s dedication to financing renewable energy expansion and contributing to the nation’s target of 500 GW by 2030 and net-zero emissions by 2070. He emphasized IREDA’s leadership in driving India’s green energy revolution and fostering a self-reliant, sustainable future for all.

RBI Governor Shaktikanta Das has said the decision on interest rate moderation will be based on long-term inflation trajectory and not monthly data

New Delhi: The Reserve Bank of India (RBI) Governor Shaktikanta Das has said the decision on interest rate moderation will be based on long-term inflation trajectory and not monthly data.

The Monetary Policy Committee (MPC) headed by the RBI Governor is scheduled to meet between October 7 and 9 and take call on interest rate.

The RBI kept the repo rate unchanged at 6.5 percent for the ninth time in a row amid risks from higher food inflation. In the August meeting, four of six MPC members voted in favour of the status quo.

In an interview to CNBC International, Das said the focus will be on the month-on-month momentum, whether inflation is building up or moderating and the upcoming inflation trajectory will be carefully monitored with a forward-looking approach, and decisions will be made based on that assessment.

"It is not a question that in the current context, like in July, the inflation came to about 3.6 percent, that is the revised number, and August has come at 3.7 percent. So, it is not so much how the inflation is now; we have to look at, for the next six months, for the next one year, what is the outlook on inflation.

"So, therefore, I would like to sort of step back and look more carefully at what is the future trajectory of inflation and growth, and based on that, we will take a decision," he said.

On whether the RBI's Monetary Policy Committee (MPC) will be actively considering a rate cut in early October, Das replied, "No, I can't say that."

"We will discuss and decide in the MPC but so far as growth and inflation dynamics are concerned, two things I would like to say. One, the growth momentum continues to be good, India's growth story is intact and, so far as inflation outlook is concerned, we have to look at the month-on-month momentum," he said, adding that based on that a decision will be taken.

Das further said the rupee has been one of the least volatile currencies globally, especially since the beginning of 2023.

"The rupee has been very stable vis-a-vis the US dollar and the volatility index," he said.

Asked why the RBI had not allowed more volatility in the rupee, the governor said, "If you allow volatility, whom does it benefit? It does not benefit the economy. So why would we allow volatility?"

He further clarified that while fluctuations in exchange rates are natural, excessive volatility would be damaging.

"Our stated policy is to prevent excessive volatility of the rupee," he said, adding that maintaining a stable rupee instils confidence in the market, investors, and the broader economy.

Das further remarked that the RBI is committed to maintaining financial stability and the bank will take steps to ensure this.

A minor oil leak happened on a pipeline in offshore Mumbai on Monday morning, which was promptly arrested, state-owned ONGC said

New Delhi: A minor oil leak happened on a pipeline in offshore Mumbai on Monday morning, which was promptly arrested, state-owned ONGC said.

"On the morning of September 16, 2024, at around 0600 hrs, ONGC team of Uran Plant (in Mumbai) swung into action to arrest a minor leak in the flow line originating from offshore. The leak was arrested, and the team ensured no spillage of oil into the beach," the firm said in a statement.
 

ONGC said it has robust safety infrastructure and adheres to laid down HSE guidelines.

"It has trained manpower to address such incidents promptly."

"ONGC is deeply committed to the safety of people and the environment," the firm said.

KRIBHCO launched a biofertiliser 'KRIBHCO Rhizosuper' on Monday in partnership with Novonesis, aiming to make it available to Indian farmers for the upcoming winter crop season

New Delhi: Fertiliser cooperative KRIBCO launched a biofertiliser called 'KRIBCO Rhizosuper' on Monday in partnership with global biosolutions firm Novonesis, aiming to make it available to Indian farmers for the upcoming winter crop season.

The granular product, which will be priced at Rs 500-550 per acre, uses Novonesis' Lipo-chitooligosaccharides (LCO) promoter technology.

It can be applied to various crops, including rice, wheat and pulses, during the early growth stages of plants when roots are developing.

"The partnership will usher in a new era where Indian farmers will get access to cutting-edge agri-biosolutions," KRIBHCO Managing Director M R Sharma said.

The launch is part of a long-term collaboration that includes strengthening KRIBHCO's biofertiliser facility and expanding its product portfolio.

Krishna Mohan Puvvada, Novonesis Senior Vice President for India, Middle East and Africa region, said this marks the first time an innovative Mycorrhizal biofertiliser with proprietary LCO promoter technology is being introduced in India.

The product has been tested on wheat, tomatoes and chillies across India. KRIBHCO can manufacture up to 20,000 tonnes annually and plans to expand as demand grows.

While awareness of biofertilisers in India is currently low, KRIBCO aims to boost outreach efforts.

The biologicals sector in India has seen double-digit growth over the past five years, but market penetration remains below 5 percent, indicating significant room for expansion amid rising challenges of climate change and environmental concerns, according to Novonesis.

Finance Minister Nirmala Sitharaman will launch the NPS Vatsalya Scheme on Wednesday in line with the announcement made in the Union Budget 2024-25

New Delhi: Finance Minister Nirmala Sitharaman will launch the NPS Vatsalya scheme on Wednesday in line with the announcement made in the Union Budget 2024-25.

The finance minister will also launch an online platform for subscribing to NPS Vatsalya, release a scheme brochure, and distribute Permanent Retirement Account Number (PRAN) cards to minor subscribers.

As part of the launch here, NPS Vatsalya events will be organised simultaneously at nearly 75 locations throughout the country, the finance ministry said in a statement on Monday.

Other locations will join the launch through a video conference and also distribute PRAN membership to new minor subscribers in that location.

NPS Vatsalya will allow parents to save for their children’s future by investing in a pension account and ensuring long-term wealth with the power of compounding.

The scheme offers flexible contributions and investment options, allowing parents to make a minimum investment of Rs 1,000 annually in the name of the child, thus making it accessible to families from all economic backgrounds.

This new initiative is designed to start early in securing the financial future of children, marking an important step in India's pension system.

The scheme will be run under the Pension Fund Regulatory and Development Authority (PFRDA).

The launch of NPS Vatsalya highlights the government's commitment to promote long-term financial planning and security for all, the statement said.

It is a big step toward making India's future generations more financially secure and independent, it added.

The tests, focusing on strategic deterrence, comes after recent advancements in India’s nuclear triad and indigenous missile technology.

New Delhi: DRDO is set to test new-generation missile systems, enhancing its defence capabilities, according to media reports. The tests, focusing on strategic deterrence, comes after recent advancements in India’s nuclear triad and indigenous missile technology.

In an effort to further boost the country’s strategic deterrence and defence capabilities, Defence Research and Development Organisation (DRDO) will be testing a number of strategic as well as conventional missiles in next one and half months.

DRDO will test strategic and conventional missiles in next one and half months to boost India’s defence capabilities, aligning with the government’s ‘Atmanirbhar Bharat’ initiative. The tests come after recent successful launches of Agni-4 and Agni-Prime missiles, and the commissioning of INS Arighat, India’s second nuclear-powered ballistic missile submarine.

However, the sources did not reveal the number of missiles to be tested.

The development would be in sync with the government’s ambitious “Atmanirbhar Bharat” or self-reliant initiative in the defence sector. India has been focusing for the self-reliance in the defence sector after the issue of supply chain disruption arisen in the wake of fast changing geo-political scenario across the globe.

It is pertinent to mention here that weeks back India commissioned its second nuclear-powered ballistic missile submarine (SSBN), INS Arighat.

As the leader of the India Pavilion, BEML showcased its advanced defence manufacturing capabilities alongside DRDO and Yantra Ltd, marking a strong presence from September 11-13

New Delhi: BEML Limited, a premier manufacturer of mining and defence equipment, made a significant impact at the Land Forces 2024 Global Exposition in Melbourne, Australia. As the leader of the India Pavilion, BEML showcased its advanced defence manufacturing capabilities alongside DRDO and Yantra Ltd, marking a strong presence from September 11-13. This participation underlines BEML's efforts to expand its global footprint and cater to the rising demand for cutting-edge and reliable machinery in the mining and defence sectors.

BEML has established itself as a trusted partner for high-quality, innovative solutions, exporting to over 72 countries. Its global success is fueled by strong demand in regions with robust mining activities and substantial defence budgets, where BEML’s reputation for excellence continues to grow.

• At Land Forces 2024, BEML highlighted its flagship products, including:

• Sarvatra Bridging Solutions

• High Mobility Vehicles (HMVs)

• Transport and Radar Systems

• Arjun Armoured Recovery and Repair Vehicles (ARRVs)

• Ground Handling Equipment (GHE) and Ground Support Equipment (GSE) for Aerospace

• Open Cast and Underground Mining Equipment

• Unmanned Aerial Vehicles (UAVs)

• Future capabilities in Maritime Engineering

Renowned for durability and advanced technology, BEML's product range spans from mining equipment like excavators, dump trucks, and loaders to defense products such as artillery, missile launchers, and armored vehicles. BEML’s dedication to continuous innovation and superior quality has earned the company a strong global customer base and numerous accolades.

As part of its strategic expansion, BEML is integrating AI-based technologies into its equipment to enhance efficiency, safety, and environmental sustainability. This smart technology aims to meet the evolving needs of the global mining and defence industries, offering customers intelligent and future-ready solutions.

To further bolster its expansion, BEML is actively pursuing strategic partnerships and collaborations with local companies in Australia and Europe. These alliances will help localize BEML's products and ensure compliance with regional standards and regulations, while advancing the Indian government’s 'Make in India' initiative.

New Delhi: The country's coal output grew 5.85 percent to 411.62 million tonnes (MT) in the current fiscal year (up to September 12), over the year-ago period.

This country's coal production was 388.86 MT during the same period last year.

"This marks a significant increase... reflecting a commendable growth rate of 5.85 percent, despite adverse climatic conditions that challenged mining operations," the coal ministry said in a statement.

The figures are provisional. The production by state-owned Coal India Ltd rose to 311 MT during the same period, marking a growth of 2.80 percent compared to 302.53 MT in the corresponding period of the previous year.

This growth is even more notable given the interruptions in mining activities in CIL subsidiaries due to heavy rains, it said.

Coal dispatch has also experienced a substantial uplift, reaching 442.24 MT during 2024-25 (up to September 12), compared to 421.29 MT in the same period last year, it said, adding that this reflects a robust growth rate of 4.97 percent.

Furthermore, the dispatch of coal to power plants has shown a growth of 4.03 percent, achieving 362.65 MT, underscoring the sector's commitment to meeting the nation's rising energy demands.

As of Thursday, the coal stock held by coal companies surged to 76.49 MT, showcasing annual growth rate of 49.07 percent.

In parallel, the coal stock at domestic coal-based thermal power plants has reached 36.58 MT, representing a growth of 43.68 percent.

This is in addition to the three interim dividends totalling Rs 13 per share, that have already been paid during the year

New Delhi: RITES Limited, the prime transport infrastructure consultancy and engineering firm, on Friday conducted its 50th Annual General Meeting (AGM) through video-conferencing.

During the AGM, the shareholders approved resolutions such as the adoption of audited financial statements of the company, 1:1 bonus equity share for shareholders and Rs 5 per share as a final dividend for FY 2023-24. This is in addition to the three interim dividends totalling Rs 13 per share, already paid during the year. The total dividend of Rs 433 crore (Rs 18 per share) attributable to the financial year takes the RITES dividend pay-out to 95.2 percent of the earnings. The cut-off date for the final dividend payout is September 20.

In FY'24, RITES achieved consolidated revenue of Rs 2,539 crore, compared to Rs 2,730 crore in FY'23. Operating revenue, excluding other income, stood at Rs 2,453 crore, down from Rs 2,628 crore in FY'23. The decline was primarily attributed to a dip in export revenue and the opening of Indian Railways Quality Assurance works to four players. Despite these headwinds, RITES demonstrated its commitment to profitability, achieving profit before tax of Rs 670 crore in FY'24, compared to Rs 774 crore in FY'23. The profit after tax also stood at Rs 495 crore, down from Rs 571 crore in FY'23.

Leveraging its core strength and expertise, with increased focus on project consultancy and efficient execution, RITES achieved the highest-ever consolidated revenue of Rs 1,289 crore in FY'24. The turnkey and leasing segments also recorded the highest-ever revenue of Rs 903 crore and Rs 138 crore, respectively.

While addressing the shareholders, RITES Limited's Chairman & Managing Director (CMD) Rahul Mithal said, “Over the past five decades, RITES has grown from humble beginnings to being granted the prestigious Navratna status this financial year, committed to delivering consistent results and creating value for stakeholders. With our focus on being 'Future Ready', RITES has vigorously pursued its #ITReady, #SkillReady, and #AIReady initiatives.”

“As we ‘Dare to Dream’, what cannot and will not change is our commitment to our core values of: Integrity, Professionalism and the relentless pursuit of Excellence,” he added.

RITES’ efforts led to the acquisition of orders exceeding Rs 2300 crore in FY'24, resulting in a robust year-end order book of Rs 5690 crore.

The vessel of length 127 mtrs. and breadth 28 mtrs. is built under the globally acclaimed “Beagle” platform of Royal IHC, Netherlands

New Delhi: Cochin Shipyard Limited (CSL) on Friday laid the keel of India’s largest dredger, “DCI Dredge Godavari” marking a significant milestone in the country’s maritime capabilities. This Trailing Suction Hopper Dredger (TSHD) with a hopper capacity of 12,000 cubic meters build for the Dredging Corporation of India Limited (DCIL), is a major initiative under the ‘Make in India’s ‘Atmanirbhar Bharat’ initiative of the Government.

The keel for DCI Dredge Godavari, has been laid by the Union Minister of Ports, Shipping & Waterways Sarbananda Sonowal remotely. The function was virtually attended by key dignitaries such as the Ambassador of the kingdom of the Netherlands to India, Her Excellency Marisa Gerards, Chairperson of VPA & DCI Dr M Angamuthu, DCI's MD Durgeshkumar and CSL CMD Madhu S Nair.

“DCI Dredge Godavari”, is built under collaboration with Royal IHC, Netherlands, a world leader in dredger design and construction. Once commissioned, this dredger will be the most sophisticated and technologically advanced dredger ever built in India. The vessel would significantly enhance the capability of the largest Indian dredging company DCI Limited, thereby increasing the capabilities of all major ports in India as envisaged under Maritime India Vision (MIV-2030). The construction of this high-capacity dredger will also enhance India’s dredging capabilities, supporting the growth of coastal and inland shipping market.

The vessel of length 127 mtrs. and breadth 28 mtrs. is built under the globally acclaimed “Beagle” platform of Royal IHC, Netherlands. It is customised to meet all Indian requirements. This asset will be a great enabler for the Government's Port-led development initiative.

For Coal India Limited’s second coal gasification project at Bardhaman, West Bengal, an RfP has been floated, seeking EoI from interested parties

New Delhi: For Coal India Limited’s (CIL) second coal gasification project at Bardhaman, West Bengal, a Request for Proposal (RfP) has been floated, seeking Expressions of Interest (EoI) from interested parties for the selection of a coal gasification technology licensor suited for coal of Sonepur Bazari mine of Eastern Coalfields Limited (ECL). The RfP has been floated by Projects & Development India Limited (PDIL). Coal India had signed a joint venture agreement with GAIL (India) Limited for setting up a coal-to-synthetic natural gas, or syngas, plant through surface coal gasification route on August 5.

This will be CIL’s second coal gasification plant. Earlier in February 2024, Coal India signed up a joint venture agreement (JVA) with Bharat Heavy Electricals Limited (BHEL) for setting up India’s first commercial-scale ammonium nitrate plant through surface coal gasification (SCG) technology route. A joint venture company, named Bharat Coal Gasification and Chemicals Limited (BCGCL), has also been formed to set up the project in Odisha.

Submission of EoI for Coal India’s 2nd coal gasification project

The last date for the submission of EoI is October 15, 3 pm, and the bids will be opened on the same day. A pre-bid meeting has been scheduled for September 24. “Proposed JV of GAIL & CIL intends to set-up 80,000/- NM3/hr (stream days:330) Synthetic Natural Gas Plant at ECL Bardhaman, in the state of West Bengal (India) through surface Coal Gasification route. The Effective Synthesis Gas (H2 +CO) required is approximately 3,36,000 Nm3/hr,” says the RfP document.

“Proposed JV of GAIL & CIL invites “Expression of Interest” (EOI) from internationally reputed technology licensor having the requisite Coal Gasification Technology and willing to provide the technology for production of Synthetic Natural Gas on commercial basis,” the document says.

The licensor should be capable of providing a basic design package for Coal Gasification and associated equipment, including Coal Preparation (without blending with other feedstocks like petcoke, biomass, etc.) for gasifying coal. Coal from Raniganj coalfields have between 18 percent and 30 percent ash content on commercial basis, says the RfP.

“Licensor shall submit the details of process in support of smooth operation of gasification plant with the subject coal,” it says.

ONGC Green has signed a Share Purchase Agreement (SPA) for the acquisition of a 100 percent stake in PTC Energy Limited (PEL)

New Delhi: Oil & Natural Gas Corporation’s (ONGC) green subsidiary, ONGC Green Limited (OGL), has signed a Share Purchase Agreement (SPA) for the acquisition of a 100 percent stake in PTC Energy Limited (PEL) on Friday, said ONGC in a regulatory filing. “OGL has signed Share Purchase Agreement on 13.09.2024 with PTC India Limited for acquisition of 100 % equity stake in PTC energy Limited (PEL),” said the oil and gas major. With this acquisition, ONGC Green will also acquire 288.80 MW wind power generation capacity owned by PEL.

PTC energy Limited has an aggregate operational wind generation capacity of 288.80 MW located in Andhra Pradesh (AP), Madhya Pradesh (MP) and Karnataka. It operates 157 Wind Turbine Generators (WTGs) across all its wind farms.

ONGC acquiring RE assets to meet Net Zero commitments

ONGC is targeting to reach Net Zero emissions by 2038 and is therefore, focussing on acquisition of renewable energy assets through its subsidiary OGL. “It is informed that the Company has taken various initiatives in Renewable Energy domain to achieve its Net Zero Target (Scope 1 & 2) by 2038. To consolidate these efforts and accelerate progress, the Company has incorporated a wholly-owned subsidiary, ONGC Green Limited (OGL). OGL is primarily engaged in green energy and gas businesses, viz, renewable energy (solar, wind, hybrid, hydel, tidal and geothermal etc.), biofuels/ bio-gas business, green hydrogen and its derivatives such as green ammonia, green methanol, storage, carbon capture utilisation and storage and LNG business,” the Maharatna PSU told the bourses.

The acquisition comes weeks after ONGC Chairman and Managing Director (CMD) Arun Kumar Singh said that the company is looking to acquire more than 1 GW of renewable energy projects in ‘inorganic way’ during the current financial year. Inorganic growth is a business strategy that involves merging with or acquiring another company to expand operations and grow.

“The aforesaid acquisition is, subject to completion of Condition Precedents and other terms and conditions, as per Share Purchase Agreement executed between the parties and approvals, as may be required under applicable laws,” said ONGC.

NMDC aims to increase production from 45 million tonne (MnT) in FY24 to 50 MnT in FY25, with the ultimate goal of reaching production capacity of 100 MnT by 2030-31, thereby raising its domestic iron ore market share annually 20% to 25%.

State-owned iron ore miner National Mineral Development Corp (NMDC) is set to nearly double its production capacity to 100 million tonnes (MnT) by 2030,  driven by the growing domestic and international demand for iron ore, a key raw material for steel making.

NMDC aims to increase production from 45 million tonne (MnT) in FY24 to 50 MnT in FY25, with the ultimate goal of reaching production capacity of 100 MnT by 2030-31, thereby raising its domestic iron ore market share annually from 20% to 25%.

"The company’s strategic investment plan focuses on boosting production capacity and improving evacuation infrastructure. Key initiatives include the development of advanced slurry pipelines, pellet and beneficiation plants, and a robust network of stockyards," NMDC, which is the country's largest iron ore producer, said in a statement.

NMDC has earmarked Rs 2,200 crore for this strategic expansion plan for FY25. . The investments will primarily focus on the slurry pipeline and new processing plants, which are crucial for enhancing efficiency, minimizing environmental impact, NMDC added.

A flagship project in this plan is the 135-kilometer slurry pipeline from Bacheli to Nagarnar. This eco-friendly, cost-effective pipeline will reduce reliance on traditional, carbon-intensive transportation methods. Additionally, the new Screening Plant II at Kirandul will enhance NMDC’s processing capabilities, enabling the company to handle increased production volumes while maintaining high quality standards, the company said.
 

Meanwhile, the miner  is preparing to commence production at its 8 MnT coking coal block by December 2025. "This move aims to reduce India’s dependency on coking coal imports," the company said.  It is also pursuing overseas mining opportunities for critical minerals like lithium, cobalt, and nickel through its subsidiary, Legacy India Iron Ore Limited.