Iron ore pellet maker KIOCL, which is awaiting response from Odisha government to set up a pellet plant in the state, today said, it is ready to invest in pelletisation projects at any location.
“KIOCL is a cash rich organisation. It has a cash surplus of Rs 2,000 crore and is a dividend paying company. So there is no dearth of resources (to invest in pellet making projects),” said said Malay Chatterjee, chairman-cum-managing director (CMD) of KIOCL.
The Ministry of Steel undertaking has been operating a 3.5 million tonne per annum (MTPA) pellet plant at Mangalore since 1986. However, due to sharp fall in international iron ore prices and mineral crunch in domestic markets, it suspended operations at its plant last year and has been scouting for resources to establish pellet plants across the country.
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It has shown interest to develop pellet plants for NMDC and Steel Authority of India Ltd (SAIL). In 2012, it had proposed to set up a 1.2 mtpa pellet plant and 2 mtpa beneficiation plant at a cost of Rs 1,000 crore jointly with Odisha Mining Corporation (OMC), which has several million tonnes of iron ore fines lying at its mining sites. However, it is yet to make any progress on the proposal.
“That proposal with OMC is still pending,” added Chatterjee. The Bangalore-based Central government public sector undertaking (PSU) today signed memorandum of understanding (MoU) with Bhubaneswar-based Institute of Minerals and Materials Technology (IMMT) to provide ore beneficiation solution to the steelmakers and miners of the country and abroad. “The MoU will allow us to provide ore beneficiation and pelletisation solution to interested parties in domestic and foreign market, right from concept design to commissioning of the plant in association with technology provided by IMMT,” said the KIOCL top official, after the agreement signing ceremony here.
IMMT played a key role in providing technology for establishment of large pellet plants of Essar Steel, Jindal Steel and Power Ltd (JSPL) and Brahmani River and Pellet Ltd (BRPL) in Odisha. Recently, it has been approached by a couple of African steel makers to plan pellet plants for them, said B K Mishra, director of IMMT, a unit of Council of Scientific & Industrial Research (CSIR),. “We would like to jointly execute the projects for iron ore beneficiation in India and as well as in other countries,” he said.
