VP Naidu applauds NMDC

The Public Sector Enterprises (PSEs) have contributed immensely to the country’s economic growth and have helped in building a sustained industrial base and technological competencies in a number of areas, said Vice President M. Venkaiah Naidu.

The PSEs have played a pioneering role in building the infrastructure — be it telecom, transportation, power, irrigation or road network, he noted.

Coal, oil and natural gas are the other key areas where the public sector companies have made immense contribution to the national economy, he applauded.

Achieving self-sufficiency, reducing imports to save precious foreign exchange, promoting exports, removing regional disparities to ensure balanced development, preventing monopolies in private sector and providing employment were among the main objectives in establishing scores of PSEs across the country, he said at the 60 years of NMDC on 8 Dec 2017.

The Vice President called on companies like NMDC must look beyond the conventional templates, take up skilling programmes for youth in a big way and give a thrust to ‘Make in India’ initiative.

As mineral prospecting company, NMDC has spread its footprint globally, with acquisition of leases of gold deposits in Tanzania, a majority stake in an iron ore deposit in Australia and a coking coal deposit in Mozambique in partnership with two other public sector enterprises under the Ministry of Steel.

He noted that NMDC is striving to invest in strategic and critical raw materials which are required by India for long term supply security.

In line with this strategy, NMDC has already entered into MoUs with MIDHANI & DMRL to explore opportunities for investment in Tungsten mineral assets in India and abroad. Such initiatives will give impetus to ‘Make in India’ campaign.

Naidu wants MNDC to do more in mineral-rich India which producers 95 minerals.

NMDC started on 15th November, 1958, and has woven around the dreamy hills and the deep jungle land of Bastar in Chhattisgarh, known as Dandakaranya from the epic periods.

The entire area was brought to the mainstream of civilization by the spectacular effort of NMDC by opening-up of mines in the year 1967. Today, Bailadila is a name to reckon with in the world iron ore market, recap the Vice President.

“NMDC’s journey has indeed been commendable. I glad to know that nearly a fifth of the total employees in NMDC are tribals, mostly from the local areas. Further skilling of youth will enhance the human capital of our country.

“The saga of NMDC includes the pioneering exploration activity carried out for developing iron ore mines in Karnataka and in various regions like Kudremukh, Donimalai, Bababudan, Kumaraswamy and Ramandurg.

“I am happy to note that NMDC is currently the largest iron ore mining company in India with three highly mechanized iron ore complexes located in Chattisgarh and Karnataka. It is also gratifying to note that NMDC’s Diamond Mining Project, Panna (M.P.), is the only mechanized diamond mine in Asia,” the Vice President applauded and congratulated NMDC.

R & D efforts of any company give an indication of its growth and sustainability. NMDC’s state-of-the-art R&D centre at Hyderabad, can spur further growth in the sector, he said. fii-news.com