KIOCL Ltd Pellets Output Jumps to 14.60 Lakh Tons in FY 2016-17

Mangaluru: Kudremukh Iron Ore Company Ltd (KIOCL Limited), a Central Public Sector Undertaking under Ministry of Steel, which is pioneer in iron ore beneficiation and pelletization in the country has bounced back in its production target during the fiscal year 2016-17 surpassing the Very Good target set by the ministry with a production of 14.60 lakh tons of pellets as compared to the last two fiscal years and in particular to the last year which was 1.0 lakh ton only.

The company has also made a record pellet production of 2.8 lakh tons in January and March 2017 which is the highest monthly productions achieved in the last 5 years.The Company is upbeat in surpassing pellet sales for the last two years, having dispatched 13.86 lakh DMT with 26 shipments which includes 16 export and 10 domestic shipments of 4.54 lakh DMT and 8.98 lakh DMT respectively.

Malay Chatterjee, Chairman-cum-Managing Director expressed confidence having run the Plant for 181 days and registering profit for the year 2016-17 and producing 14.64 lakh tons as against 1.0 lakh tons during the last year.

CMD, Chatterjee had also expressed that the Company is in the process of rejuvenation having got a Mine of 474 ha at Devadari Range in Bellary Dt. of Karnataka which is already in the process of meeting statutory compliances on its road to production. 

The Company is also sound with two JVs in the State of Andhra Pradesh & West Bengal which will not only boost its confidence in mining sector but also facilitate us in earning revenue through its exploration and engineering wing having allotted two mineral blocks in the State of Karnataka and Tamil Nadu by Ministry of Mines, Govt. of India under NMET programme.

During the fiscal year 2016-17, its Operation and Maintenance vertical had also facilitated substantial earnings which was contributed to the bottom line with revenue generation from the projects at Donimalai and Kaliapani. Chatterjee said that in the current year, the Company will focus in its Capex utilization not only to generate profit but also to ensure its growth supporting the sustainability.