Public sector steel maker Neelachal Ispat Nigam Ltd (NINL) promoted jointly by MMTC and two Odisha government controlled entities, has begun the process of selection of a Mine Developer Cum Operator (MDO) to operate its captive iron ore mines at Koira.
NINL which has stepped up its production tempo by aiming to produce 3500 tonnes of hot metal per day, has announced plans to foray into branded steel billets, TMT bars and wire rods in this financial year. By enriching its product basket, the company expects to strengthen its financial health.
With the Steel Melting Shop (SMS) operational in two months time, the focus will be to maximize the billet production for special applications. NINL has also plans to enter the export billet market. Its Pig Iron is already established name in the export market.
NINL’s production in the last two months has shown the trend for a near capacity utilization. The company’s production in the last two months (May-June) has established 29.65 per cent growth over the corresponding period of the last fiscal 2017-18.
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