In an effort to expand its presence, Kudremukh Iron Ore Company Limited (KIOCL) will soon be establishing pellet plants in Visakhapatnam, Bhilai (Chhattisgarh) and Bokaro (Jharkhand). The plant in Visakhapatnam will be set up in association with the Vizag Steel’s Corporate entity, Rashtriya Ispat Nigam Limited (RINL). On the other hand, the plants in Bhilai and Bokaro will be established after the company reaches a Memorandum of Understanding (MoU) with Steel Authority of India Ltd (SAIL).
While an MoU has already been signed with RINL in regard with setting up of the plant in Visakhapatnam, an agreement between KIOCL and SAIL, for the establishment of the plants in Bhilai and Bokaro, is awaited.
Stating that KIOCL has already diversified in the field O&M services (operation and maintenance), a statement from the company said that it was looking to its expand its services to other parts of the country by setting up pellet plants.
KIOCL CMD Subba Rao has expressed that keeping the above background and experience in view and diversify/expand KIOCL’s operation by making use of the emerging opportunities. KIOCL has already signed an MoU with RINL to set up a 2 MTPA pellet plant at Vizag. On similar lines, KIOCL is planning to sign an MoU to set a pellet plant under JV with SAIL,” the company said.
Reportedly, the plant in Visakhapatnam will be established with an estimated cost of Rs 1000 crore and is expected to be commissioned by 2021-22.