State-owned pellet maker – KIOCL (formerly Kudremukh Iron Ore Company Ltd) recorded enhanced pellet production for FY’18. The production recorded at 2.32 MnT . The production marked significant rise of 59% Y-o-Y as against production in FY’17, recorded at 1.46 MnT.
The company’s pellet sales recorded a prominent increase to 2.30 MnT in FY’18, up 65% as against 1.39 MnT in FY’17.
Out of 2.30 MnT pellets sold in FY18, 1.45 MnT was through exports and remaining quantity of 0.85 MnT was through domestic sales.
The pellet exports by the company recorded significant rise of 63% on yearly basis to 1.45 MnT in FY’18 as against 0.89 MnT in FY’17. The company has entered into markets of South Korea and Japan.
The domestic sales also witnessed steep rise of 73% in FY’18 to 0.85 MnT as against 0.49 MnT in FY’17.
KIOCL entered into joint venture with RINL to set up a pellet plant near Vishakhapatnam Steel Plant in Jan’18.
Shri MV Subba Rao , CMD (Addl Charge) attributed this growth to the efficiency in production, and swift decision-making in exploiting market opportunity and implementing the concept of ‘Make in India’.
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