Solar power plant inaugurated at KIOCL

Panambur: The solar power plant at at KIOCL Limited at Panambur was inaugurated by the union minister for steel Chaudhary Birender Singh who also laid the foundation stone for modernisation of blast furnace unit here on Wednesday, January 30.

Chaudhary Birender Singh addressed the gathering after inauguration and said, “KIOCL Limited has made progress in the area by setting up solar power plant of 1.3mw capacity. KIOCL being an eco-friendly and socially responsible corporate house with a name for quality and expertise, has earnestly pursued excellence in fields of its core business of iron ore mining, beneficiation and pelletization from the last four decades.”

 “KIOCL Limited during its first half of financial year 2018-19 has reported a PBT of Rs 59.12 crore and PAT of Rs 45.89 crore against Rs 10.44 crore and Rs 8.35 crore respectively of the previous financial year. I appreciate the efforts put in by KIOCL towards Make in India programme of government of India by exporting a considerable quantity of pellets by importing high grade raw materials which is not available in India from offshore sources,” he said.

“KIOCL has entered into the field of renewable energy in setting up of a solar plant. You have already set up a 380kwp roof top solar power plant at the existing buildings located at pellet plants and blast furnace units at Mangaluru and today I am happy to dedicate to the nation, the solar plant of 1.3Mw capacity. I expect KIOCL to complete the other 5mw proposed solar power plant within the time schedule,” said the minister.

Speaking on the occasion MP Nalin said, “Since 2014 under the aegis of Prime Minister Narendra Modi, several development works have taken place. We are not known for publicity, as our work should do the talking. This is Modi’s vision. MCF was on the verge of closure. Timely decision helped in saving MCF.”

An MoU was signed with National Institute of Technology Karnataka for taking up the R&D projects together in the areas of pelletization and beneficiation of iron ore and other projects.