India’s Neelahcal Ispat, a producer primarily of pig iron, will focus on higher value addition with the production of billets, wire rods and branded Thermo Mechanically Treated (TMT) bars in the current financial year, company sources said on Thursday, June 7.
While the company will sell TMT bars for the construction sector under a special company-owned brand, NINL will also aim to become the largest producer of micro-alloyed billets in eastern India, the sources said.
NINL will complete and commence operation of its Steel Melting Shop (SMS) within the next two months for conversion of billets into TMT bars and wire rods, the sources added.
The increasing focus on production of higher value added steel products followed the company’s completion of capital renovation and repair of its blast furnace which will enable it to produce 1.1 million mt per year of pig iron and adding value through captive conversion of the higher pig iron production will bolster the bottom-line of the company, the sources said.
NINL is a joint venture of MMTC Limited, a trading firm of the Indian federal government and Odisha government.
