KIOCL to invest Rs 3,500 cr in various green and brownfield projects

The company's exports are driven mainly by demand from China, which consumes nearly 50 per cent of iron ore produced in the world

KIOCL, a Government of India enterprise and a manufacturer of pellets, is planning to invest around Rs 3,500 crore in various brownfield, solar and mining projects. The company has also signed a MoU with SAIL to set up a greenfield project for pellet manufacturing.

Addressing shareholders, company's CMD, M V Subba Rao, said that KIOCL was a debt free company and had surplus funds, which would be invested for growth. 

The Rs 3500 crore proposed investment includes setting up of a 1.79 LTPA Coke oven plant and a 2.0 LTPA Ductile Iron Supun Pipe Plant along with the modernisation of a blast