KIOCL Limited (formerly Kudremukh Iron Ore Company Limited), a state company under India’s Ministry of Steel, has firmed up its diversification program to construct a 200,000 mt per year ductile iron (DI) spun pipe manufacturing plant, a company official said on Monday, August 19.
The Ministry of Steel has approved an investment of $118 million for the construction of the DI pipe unit and the project will be completed within the next 24 months.
In its basic operation for iron ore pellet manufacturing, the Ministry of Steel has also approved KIOCL setting up a joint venture company with state-run steel producer Rashtriya Ispat Nigam Limited (RINL) to construct a 2 million mt iron ore pellet plant which would entail an investment of around $145 million and be completed within the next 24 months, the official said.
The entire production of iron ore pellets would be for captive consumption of RINL’s 6.7 million mt steel mill located in the southern India port town of Vishakhapatnam, the official said.