Malay Chatterjee, CMD of KIOCL, a public sector steel pellet producing company here, met Union Minister of State for Steel, Mines, Labor and Employment Vishnu Deo Sai, on Thursday.
According to a press release, he discussed with the Minister the various matters concerning the steel industry at large and specific issues connected with KIOCL , and sought his help for its revival. He expressed his concerns and vision for the company, touching upon various prospects to reinstate the company to its past glory.
The KIOCL had different portals in mining, beneficiation of iron ore, pellet plant and a blast furnace unit a few years back. The company was now operating with only one vertical, the pellet plant, sourcingiron ore from NMDC mines at Kirandul and Bacheli. As directed by the Suprme Court, KIOCL was forced to shut down the Kudremukh mines in January 2006 and “since then we are totally dependent on NMDC’s Chhattisgarh ore,” Mr. Chatterjee pointed out.
As the facilities were not close to the mine head and the freight rate associated with the transportation was large, the Company operated with tight margins. The imposition of distance based charge by railways and export duty affected its export arm.
