Indian iron ore firm NMDC board okays demerger of steel unit
Photo: Pixabay
Government-owned iron ore company National Mineral Development Corporation (NMDC) on Tuesday said that the company’s board of directors at its meeting held today have approved the demerger between NMDC Limited and NMDC Steel Limited.
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The new funding is in addition to the $30 million MPOWER raised earlier this year.
A part of the proceeds from the issue will be used to repay the company’s debt.
