Indian state-run company Neelachal Ispat Nigam Limited (NINL) commenced billet production last week at its steel mill in the eastern state of Odisha, as part of its diversification to high value-added products, a company official said on Monday, December 17.
NINL, primarily a pig iron producer, will be able to significantly increase its net sales through sale of value-added billets, the official said. To take diversification further, NINL will now aim to commence production of thermomechanically-treated (TMT) bars and wire rod by the end of the current fiscal year, the official added.
The NINL official said that the first lot of billet produced during the current month has been marked for export to overseas buyers.
NINL is a joint venture between Indian government-owned trading firm MMTC Limited and the government of Odisha.
