National

KIOCL produces 2.375 million tonnes of iron ore pellets in 2019-20

Mangaluru | Updated on April 01, 2020

KIOCL Ltd produced 2.375 million tonnes of iron ore pellets during 2019-20, as against 2.356 million tonnes during 2018-19.

Quoting MV Subba Rao, Chairman and Managing Director of KIOCL Ltd, a company release said here on Wednesday that the company dispatched 2.356 million tonnes during 2019-20 as against 2.206 million tonnes during the previous fiscal.

He said the export market helped the company improve its performance. The company processed different types of ores received from different locations, including iron ore slime, to make charge mix economically viable.

Rao said that this performance is highly appreciable as a merchant pellet producer in the absence of captive raw material source after incurring huge logistics costs in moving iron ore from the east coast to its pellet plant in Mangaluru at the west coast of the country.

The company is 100 per cent dependant on coastal movement for all inward and outward materials, he said.

The company has contributed ₹10.1 crore to the PM-CARES Fund, in addition to one-day salary of the employees. It has also paid ₹15 lakh to Karnataka CM Relief Fund. He said the company has already started distributing face-masks, sanitisers, hand gloves, etc to the needy people in Bengaluru and Mangaluru.

Published on April 01, 2020

Follow us on Telegram, Facebook, Twitter, Instagram, YouTube and Linkedin. You can also download our Android App or IOS App.

This article is closed for comments.
Please Email the Editor

You May Also Like