India’s KIOCL restarts operation of pellet plant

Monday, 15 August 2022 11:59:26 (GMT+3)   |   Kolkata
       

India’s state-run KIOCL Limited has restarted operations at its 3.5 million mt per year pellet plant at Mangalore in the south of India, which was closed down in June this year following the imposition of export tax by the government, a company statement said on Monday, August 15.

The company is predominantly export-based, having sold 98 percent of its 2.03 million mt production overseas in the fiscal year 2021-22.

KIOCL has submitted a petition before the government seeking exemption from the export tax levy, with a company official stating that they are hopeful of a favourable decision.

However, at the same time, the company has initiated measures to reduce dependence on its iron ore pellet business portfolio, the official said. It has started reviving operations of its blast furnace in Mangalore which has been lying closed since 2009.  KIOCL will invest an estimated $105 million to modernize and restart the blast furnace by 2023, the official said.


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