Web Analytics Business News This Week NMDC Board Approves to Divest 8.38 % Govt's Stake | Business News This Week

Jan 25, 2010

NMDC Board Approves to Divest 8.38 % Govt's Stake

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Business News This Week : National Mineral Development Corporation (NMDC) Board on Jan 25 has approved the decision to divest 8.38 per cent of government's stake to the public. NMDC is a public sector undertaking (PSU) incorporated in the year 1958. NMDC is one of the major iron ore producers of India. Its also exporting around 30 million tonnes of irone ore.

NMDC has three mines in Karnataka, Chhattisgarh and Madhya Pradesh, where are its also many operational mines in many other states. The divestment of assets are done in order to keep the PSUs in better conditions and for good functioning. The divestment is the major sources for the capital generation for the PSUs, which can be utilized for various reasons.


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