State-owned, KIOCL (formerly Kudremukh Iron Ore Company Ltd) reported the production of Iron ore pellet at Manglore based plant has been crossed 1 MnT in H1 FY18 against 0.24 MnT same period H1 FY 17.
It has recorded pellet sales of 1.125 MnT during in H1 FY 18 compared to 0.17 MnT in H1 FY17.
Mr MV Subba Rao, Chairman and Managing Director (additional charge) of KIOCL Ltd, said that there is substantial increase in the production and sale of pellet due to supportive pricing environment, efficiency in production, and swift decision making in exploiting market opportunity in KIOCL.
The company produced 1.46 MnT pellets during FY17 against 0.1 MnT in FY16. Thus on yearly premises company’s pellet production has multiplied 15 times and 1360% Y-o-Y.
KIOCL has significantly raised its pellet exports as well in this fiscal. According to customs data maintained with SteelMint, It exported 0.71 MnT pellets in H1 FY18 against 0.12 MnT in the same time frame last year
KIOCL runs a pellet plant of 3.5 MnT PA capacity in Mangalore.
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