India’s pellet producer KIOCL inks MoUs to enter European market

Friday, 28 June 2019 11:37:28 (GMT+3)   |   Kolkata

India’s state-run KIOCL Limited (formerly Kudremukh Iron Ore Company Limited) has signed an agreement to enter the European market, including the UK, as a supplier of iron ore pellets, company sources said on Friday, June 28.

The sources said that memorandums of understanding (MoUs) have been signed with Glencore International AG and Steel Mont Gmbh under which the Indian iron ore pellet producer will deliver supplies to buyers in Europe and the UK.

KIOCL has set a target of 2.6 million mt of iron ore pellet production for the fiscal year 2019-20, up from 2.3 million mt in the previous fiscal year, from its pellet plant at Mangalore in southern India which has an installed capacity of 3.5 million mt.

The sources said that KIOCL will be investing around $28 million to upgrade its pellet plant in the current year.

Most Recent Related Articles

Indian steel ministry proposes iron ore royalty cut to boost value addition

Uptrend in India’s import scrap market reverses, outlook bearish

Coal India draws up plans to revive four abandoned coking coal mines

India’s manganese miner MOIL discloses investments for ferroalloy plants

FIMI continues to seek ban on iron ore pellet exports from India