HYDERABAD: State-run iron miner NMDC has set up a dedicated transformation and innovation vertical to leverage innovative technology to drive its vision to achieve a 100 million tonnes per annum production capacity by 2030 and reimagine the Navratna PSU’s role in the mining industry and national development.
The new vertical will act as the engine driving NMDC’s Vision 2030 and will cover projects entailing an investment of Rs 8,000 crore to Rs 10,000 crore over the next 3-5 years, the Hyderabad-based PSU said on Wednesday.
“The vertical will focus on driving strategic initiatives that enhance the organisation’s competitive edge, foster a culture of innovation, and ensure adaptability in the rapidly evolving market landscape,” NMDC said.
The vertical will comprise a compact six-member team led by a chief general manager (CGM), who will report directly to the Navratna PSU’s chairman cum managing director (CMD) and top management to enable faster decision-making and action.
NMDC said the decision was taken to meet the demands of the rapidly evolving dynamic industrial landscape. “This one-of-its-kind vertical will be responsible for concept-to-commissioning of specific projects to be implemented in the public private partnership (PPP) mode. NMDC aims to leverage private sector expertise, share the capital investment and establish long-term operational efficiencies. This collaborative approach is expected to reduce risks and accelerate progress of NMDC’s expansion targets,” it added.
“From conceptualising new schemes and overseeing tendering activities to monitoring project execution, the department will focus on transformative projects and continuous improvements. As a responsible mining company, NMDC views this new department as a catalyst for positive change,” it said.
“The department will not only provide solutions to existing challenges but also enable us to navigate the evolving ecosystem of the mining industry. This department will spearhead transformation, bringing cutting-edge technologies, many of which are first-of-their-kind in India’s mining sector,” said NMDC CMD (additional charge) Amitava Mukherjee.
“From cross-country conveying systems, buffer stockyards and blending yards to automated sampling, this initiative underscores our commitment to futuristic goals. Unlike a rigid organisation, NMDC will be a leader in driving change and path-breaking innovations, positioning itself as a global leader,” he added.
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