NMDC Ltd, India's biggest iron-ore miner, said it plans to invest Rs 19870 crore ($4.3 billion) to raise output two-thirds over five years as demand increases. Production will increase to 50 million tonnes from 30 million tonnes, chairman Rana Som said at a conference in New Delhi on Friday. He didn't elaborate. India's government will decide the extent to which it will allow NMDC to increase prices for buyers in Japan and South Korea by the end of this month, steel secretary Pramod Rastogi said.
The state-run company is seeking government approval to pass on an export tax of 15% and an increase in freight rates to overseas customers. "The issue will be resolved by the trade ministry by the end of the month," Rastogi said. BHP Billiton Ltd, the world's largest mining company, and Rio Tinto Group, the world's second-largest producer of iron ore and aluminium, won iron-ore price increases of as much as 97% for the year started April 1. http://timesofindia.indiatimes.com/Business/India_Business/NMDC_to_invest_43_billion/rssarticleshow/3477778.cms A likely impossibility is always preferable to an unconvincing possibility. - Aristotle --~--~---------~--~----~------------~-------~--~----~ You received this message because you are subscribed to the Google Groups "Kences1" group. To post to this group, send email to [email protected] To unsubscribe from this group, send email to [EMAIL PROTECTED] For more options, visit this group at http://groups.google.com/group/kences1?hl=en -~----------~----~----~----~------~----~------~--~---
