With the board of Kudremukh Iron Ore Company Ltd (KIOCL),approving the techno-economic feasibility report (TEFR) for setting up a two million tonne iron ore plant, Visakhapatnam is all set for Rs 900-crore worth plant.
Earlier, KIOCL had signed an MoU with Vizag Steel’s Corporate entity, Rashtriya Ispat Nigam Limited (RINL), for setting up the pellet plant near to the Steel Plant in Visakhapatnam.
As per reports, the pellets, which will be meeting the requirements of RINL, will be produced using the iron ore fines supplied from the mines of either Chattisgarh or Karnataka.
KIOCL Ltd CMD M.V. Subba Rao informed The Hindu that the plant would be commissioned by 2021.
KIOCL is a Government of India enterprise with its head office and administrative activities in Bengaluru. The organisation is one of the leading players in iron ore mining and the pellets manufactured by it have even been exported to countries like China, Japan, Taiwan and Iran.