NMDC Risks $558M in Maoist-Hit Areas

Bloomberg reported that India’s largest iron ore producer, NMDC Ltd., will build a $558 million pipeline to boost sales that were affected by guerilla attacks in Chhattisgarh to Vishakapatnam.

As quoted in the market news:

NMDC is seeking to boost iron ore sales and stem a decline in revenue after Maoists in October 2011 blew up a pipeline carrying the raw material to its biggest buyer, Essar Steel Ltd., two years after the first attack on the same target.

Click here to read the full Bloomberg report.