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KIOCL Embarks on Expansion & Diversification Plan

Steel News - Published on Tue, 20 Aug 2019

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Deccan Herald reported that KIOCL Ltd has embarked on a INR 3,500 crore expansion and diversification program to tap emerging opportunities in the steel sector. As part of its expansion program, KIOCL is setting up a 2 lakh tonne per annum ductile iron spun pipe plant under forward and 1.79 lakh tonne per annum coke oven plant under backward integration projects. The investment required for this project is estimated at INR 837 crore, which will make its blast furnace unit economically viable. Mr MV Subba Rao, CMD KIOCL said that the project will be completed over the next 24 months.

KIOCL currently operates a 3.5 million tonne per annum pellet plant at Mangaluru and largely exports its pellets to China, Japan and West Asia among other countries.

The company is also setting up a 2 million tonne per annum capacity pellet plant to produce high fluxed BF grade pellets in a joint venture with another Steel Ministry undertaking RINL at Vizag. The entire produce will be consumed by RINL blast furnaces. The project, estimated to be completed in 24 months from the date of placement or order on the main technological package supplier, will see an investment of INR 1,033 crore.

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Posted By : Amom Remju on Tue, 20 Aug 2019
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