NMDC shareholders, creditors approve Nagarnar Steel Plant demerger: CMD

The shareholders and creditors of NMDC have approved the demerger of the company's under-construction Nagarnar Steel Plant (NSP), its Chairman and Managing Director Sumit Deb said.

The demerger of NSP from NMDC is progressing, Mr Deb who was in the national capital, said. 

"We have got (the company's) shareholders and creditors approval for the demerger process," he said replying to a question related to the demerger.

The approval was given on Tuesday, the Chairman said.

The steel ministry had convened two separate meetings of shareholders and creditors of NMDC to expedite the process of demerging the company's Nagarnar Steel Plant.