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KIOCL Ltd posts record turnover & pellet production in 2018-19

Steel News - Published on Thu, 04 Apr 2019

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ToI reported that KIOCL Ltd has posted its highest numbers for turnover and production since 2011. While turnover at INR 1860 crore for FY18-19 was 15% higher compared to INR 1605 crore in FY 17-18, production of iron ore pellets at 2.24 million tonne during last fiscal was higher than target of 2.17 v set by steel ministry, but tad lower than 2.33 v achieved in 2017-18 on account of 30-day shutdown due to shortage of raw material.

Mr MV Subba Rao, CMD KIOCL, said “We could have exceeded pellet production numbers of 2017-18 but for inability to source raw material from NMDC Ltd mines in Chhattisgarh forcing a prolonged shutdown of the pellet plant here. The company imported iron ore from Brazil, South Africa and Iran as well as domestically from NMDC Ltd mines and limited quantity from Karnataka domestically for its pellet plant. Out of total pellet production, 71% was exported and rest used domestically.”

He said “For the first time, KIOCL exported 2.5 lakh tonnes to United Kingdom (Tata Steel Europe) in addition to regular export markets of China, Japan, South Korea and Peru.”

Noting that KIOCL is logistically away from steel market, Mr Subba Rao said this has prompted the company to focus on coastal market of Visakhapatnam (Vizag Steel) and Gujarat to take advantage of lower coastal logistics cost. The superior quality pellet of KIOCL commands a USD 10 per tonne premium in the international market and INR 1000 tonne in the domestic market compared to other manufacturers.

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Posted By : Rabi Wangkhem on Thu, 04 Apr 2019
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