India: KIOCL Pellet Production in FY19 Surpasses Set Target
State-owned pellet maker - KIOCL (Kudremukh Iron Ore Company Ltd) recorded enhanced pellet production for FY'19. The production recorded at 2.24 MnT, above the set target of 2.17 MnT.
However, the production marked 4% drop Y-o-Y as against FY’18 production at 2.33 MnT amidst 30-day operation halt owing to material shortage.
Out of the total 2.24 MnT of production, about 71% (around 1.59 MnT) was exported while the remaining 29% sold in the domestic market.
KIOCL targets 2.6 MnT pellet output for FY'20
KIOCL is working to increase its pellet production by 20% in FY20 at Mangaluru plant, which has an installed capacity of 3.5 MnT. With an aim to get the benefits of low logistic cost, KIOCL is planning to focus on coastal markets of Visakhapatnam and Gujarat. Company was allocated around INR 200 crore to modernizing Mangaluru based pellet plant for upgrading its existing technology and logistics system.
Statutory clearance for blast furnace modernization and environment impact assessment is in the process and will get through by end of Sept this year. Modernization will take KIOCL venture into the business of production of ductile iron pipes, coke oven, and 10-MW power plant. KIOCL expecting mining rights at Devdari forest in Ballari soon said MV Subba Rao, CMD, KIOCL Ltd.
source: SteelMint
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