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KIOCL celebrates 48th Foundation day at Corporate office

  • by Psu Connect
  • Date: 04-04-23
KIOCL celebrates 48th Foundation day at Corporate office

New Delhi: KIOCL Limited, a CPSU and a pioneer in Iron Ore Mining, Beneficiation & Pelletization Technology, engaged in the business of manufacture and sale of high- quality Iron Oxide Pellets. During FY 2021-22, Company's performance was excellent but due to Imposition of export duty@ 45% on Pellets on Iron Oxide Pellets w.e.f. 22.05.2022 by Govt. of India, had a major blow to the production of Pellets.

During the 48th Company Day celebration Shri T Saminathan, CMD stated in his address that the company has resumed pellet production in full swing subsequent to removal of export duty on November 2022. Mining Lease deed has been executed in the month of Jan'23 with the Govt. of Karnataka for Iron Ore and Manganese in Devadari Range. Subsequently it was registered on 18.01.2023 and aims to commence the mine operations at the earliest.

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KIOCL under "Atma Nirbhar Bharat is installing non- recovery coke oven plant at Blast Furnace Unit (BFU) with indigenous technology supplier. Captive coke production will aid the Company for input cost control of BF operations.

The new vertical of Mineral Exploration (ME) is performing as per the targets set by the National Mineral Exploration Trust hopes to execute more ME Projects across the country. Recently, Mineral exploration team met Dr Raju S, DG, GSI at his office in Kolkata and had discussions regarding engagement of our Company as a service provider for the National Geophysical Survey Works. 

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Enterprise Resource Planning (ERP) has been introduced w.e.f 1st April 2023 to automate and manage core business process for optimal performance. CMD also stated about the Company's endeavour to continuously explore opportunities to create new epicentres of growth.

Shri BK Mahapatra, Director (C) & D(F) in-charge, Shri Prashanth Kumar Balsavar, CVO, Sr Officers, team members from M/s Tech Mahindra &M/s Grant Toronto were present on the occasion.

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