A Pig iron manufacturer located in Goa has not been producing Pig iron for the last one year.
The company has finally taken a decision, that it would not resume operations for another one year.
Decision of allowing iron ore mines in Karnataka to start mining is in the field of judiciary.
We are not hopeful that issues around the same will be resolved anytime soon.
Though, iron ore is being offered through e-auctions, but it is not feasible on our part to purchase the expensive raw material and run our Pig iron plant at continuous losses.
Another Pig iron (foundry) manufacturer in Goa is offering its material at Rs 27,500/MT (ex works).
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