Current Affairs - State - Discussion

National Mineral Development Corporation and NLC ltd. (formerly knows as Neyveli Lignite Corporation) signed a pact with Environment Clean Technologies Ltd of Australia in Canberra to set up a research and Development facility in Tamil Nadu. This pact would help Australia and India work together in developing low emission iron and steel process through integrated Coldry - Mamtorplant that will be built in India. The project has two phases : Commencing a R&D phase that has a fund of AUD 35 million by Indian partners and commercial expansion of the for the steel making facility with capacity of 5 lakh tonne per annum. The amount for this fund is : AUD 300 million.