Public sector steel maker Neelachal Ispat Nigam Limited (NINL), the biggest Pig Iron producer in the country, aims to produce billets and other value added products in this financial year. Aside from billets, the steel PSU would churn out TMT bars and wire rods on a conversion process executed at its Duburi plant in the eastern state of Odisha.
The company will start its state-of-the-art Steel Melting Shop (SMS) within two months. That apart, it has plans to convert sizeable amount of billet to TMT bars and Wire Rods. It is aiming to be one of the largest producers of micro-alloyed billets in the region. The rods and wire rods will carry NINL’s brand name.
NINL set many production records regularly after the capital repair of its 1.1 million ton blast furnace. In May, 2018, it produced 69455 ton Hot Metal to register its second highest monthly production since inception and the best May-monthly production of the company.
NINL’s captive iron ore mines in Koira is expected to be start operation in the third quarter of this fiscal which will be a game changer for the company.
Post the capital repair, NINL has targets to produce 3500 ton hot metal every day. For the month of May, NINL produced 69455 ton of hot metal and 64110 ton of pig iron.
The steel company has completed the blast furnace capital repair work and now plans to operate the furnace at 100 per cent capacity, compared to 50-55 per cent previously. The blast furnace has a capacity to churn out 1.1 million tonnes of hot metal per year.
Also, with the completion of blast furnace capital repair, operationalisation of the 110 million tonne captive mines and full capacity utilization of the steel melting shop (SMS), NINL will have a potential future of becoming one of the leading producers of steel in the state. Apart from MMTC which owns 49.78 per cent equity in NINL, two Odisha government PSUs- Odisha Mining Corporation (OMC) and Industrial Promotion & Investment Corporation of Odisha Ltd (Ipicol) have stakes in the steel project.
Leave a Reply