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KIOCL Ltd (formerly Kudremukh Iron Ore Company Ltd) has signed an agreement with Rashtriya Ispat Nigam Ltd (RINL) for putting up a pellet manufacturing plant at Visakhapatnam where RINL has an integrated steel plant.
Speaking to presspersons on the sidelines of his visit to the pellet plant of KIOCL Ltd in Mangaluru on Saturday, Chaudhary Birender Singh, Union Steel Minister, said that the proposed plant would have a production capacity of 1.2 million tonnes per annum (MTPA). Whatever would be the demand of the RINL will be met by this plant. The surplus would be either exported or given to those who would come forward to purchase it, he said.
Stating that the blast furnace unit (BFU) of the company in Mangaluru will be revamped, the Minister said the company will start the production of ductile iron spun pipes after its overhauling. The unit can produce 2 lakh tonnes of these pipes after the revamp of the unit, he said.
KIOCL Ltd produced 1.70 million tonnes of pellets during this 2017-18 and sold in both the markets. The capacity utilization of the first three quarters is highest in the recent past, he said.
MV Subba Rao, Chairman and Managing Director of KIOCL Ltd, was present on the occasion.
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