National Mineral Development Corporation, NMDC, a Navratna company will sign an agreement with Russia's Severstal to set up a three million tonnes per annum steel plant in Karnataka. The Chairman of the Company, Rana Som was talking to reporters in New Delhi on Wednesday that the Karnataka government has allotted 2,500 acres of land for the project.Earlier the Steel Minister Beni Prasad Verma reviewed the performance of the company for the first quarter of the current financial year.