NMDC denies media reports on divestment

NEW DELHI: Rubbishing media reports about divestment in NMDC, the country's largest iron ore miner today said at present it has no plans to dilute government's equity in the company.

"...the press and media have carried an item on divestment of shares of NMDC. In this connection, the company has stated that there is no proposal for divestment of any shares as of now," the PSU said in a filing to the Bombay Stock Exchange.

The state-run company, which has lined up a capital expenditure of Rs 20,000 crore for the next five years to fund its operations, is a profit making enterprise and recently handed over a dividend cheque of 210.64 crore to Steel Minister Ram Vilas Paswan here.

Diversifying its field of operation, the company recently laid foundation stone for setting up a 3 million tons integrated steel plant in Chhattisgarh with an investment of about Rs 14,000 crore.