Bhubaneswar: Miniratna PSU, KIOCL is planning to set up a 2 MnT pa Beneficiation and a 1.2 MnT pa Pelletisation plant inside the Rourkela Steel Plant (RSP) complex through forming a joint venture with SAIL. To be set up under the BOO (Built-Own-Operate) system the project will utilize the low grade Iron ore fines of SAIL. KIOCL will invest INR 12 billion in the project and will take 18 to 24 months to be completed.
“We had approached the union steel ministry for the project and the union steel secretary G Mohan Kumar has directed the proposal to SAIL’s Chairman. The plant to be set up with an investment of INR 12 billion will use hematite ore for up-gradation of Fe content and Pelletisation,” said Malay Chatterjee, CMD of KIOCL.
It may be noted that for the last several months, the raw material division of SAIL located at Kolkata has been looking for partners for utilization of its low grade Iron ore fines stashed at its mines. According to senior official at SAIL, currently as much as 10 MnT of low grade Iron ore fines are laying at several captive mines of the company located in several states including Chrira in Jharkhand and Bolani in Odisha. Out of this, about 3-4 MnT of low grade fines are located at its Odisha mines. KIOCL is a cash surplus company with net worth of more than INR 20 billion.
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