Southern India based pellet maker – KOICL Ltd plans to ramp up pellet production to 2.6 MnT in next year.
As per reports – MV Subba Rao, CMD, KIOCL Ltd, shared that the company is expecting to repeat the same performance of last financial year’s pellet production at 2.327 MnT, this year also.
On the plans for the next financial year, he said: “We are targeting 2.6 MnT for 2019-20.” The pellet production of the company stood at 0.1 MnT and 1.46 MnT in 2015-16 and 2016-17, respectively. The installed capacity in Mangaluru is 3.5 MTPA.
KIOCL has been keep enhancing its performance due to several initiatives taken by the management with the support of the Union Steel Ministry. Company was allocated around INR 200 crore for modernizing Mangaluru based pellet plant. Company has been upgrading its existing technology and logistics system.
KIOCL had operated iron ore mines in Karnataka till Dec 31st, 2005. They had also made several attempts to procure captive iron ore mines in Odisha, Andhra Pradesh, and Karnataka.
Karnataka Govt. has already notified iron ore reserves at the same time got approval for the mine’s plans from Indian Bureau of Mines in Ballari district. Other statutory clearances are in process.
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