Indian state-run steel producer Rashtriya Ispat Nigam Limited (RINL) will operationalize its subsidiary Orissa Mineral Development Corporation (OMDC) now that the latter has come out of bankruptcy filing, a company source said on Friday, September 28.
RNIL which did not have any captive source of iron ore will start revising OMDC starting with renewing the lapsed iron ore mining leases of the latter company in the eastern Indian state of Odisha and will be able to secure critical raw material sourcing of its own, the sources added.
Apart from restarting the existing iron ore mines of OMDC, RINL has also approached the government of Odisha for allotment of new iron ore blocks for OMDC, so that RINL, a 7.3 million mt per year steel mill located in the southern Indian port town of Vishakhapatnam, could get assured raw material supplies, the sources added.