KIOCL is also looking forward to set up a 1 MnT pa pellet plant in Andhra Pradesh.
Public sector KIOCL (earlier known as Kudremukh Iron Ore Company Ltd) is in the race to acquire a controlling stake in Odisha government owned IDCOL’s two sick units , viz, IDCOL Kalinga Iron Works (IKIWL) and IDCOL Ferro Chrome Alloys (IFCAL). Two other PSUs, SAIL and Nalco, are also keen to acquire the sick units.
“We are keen on having 51% stake in the two units of IDCOL. I had a meeting with the Odisha chief secretary in this connection. We are in process of doing due diligence of the two units and expect to be ready with the valuation soon. KIOCL would convey its decision to the Odisha government by the end of September”, said the KIOCL CMD.
Few months back, IDCOL CMD Vishal Dev had indicated that the state government is talking to few other PSUs for stake sale, as there was no progress in talks with SAIL.
KIOCL pellet plant in Andhra
Mr Malay Chatterjee has also informed that KIOCL is planning to establish a 1 MnT pa iron ore pellet plant in Ananthpur district of Andhra Pradesh with an investment of INR 10 bn. The project will be set up through a joint venture with Andhra Pradesh Mineral Development Corporation and is expected to be operational by 2017.
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