KIOCL fares better, produces 2.37 million tonnes of pellets

KIOCL Limited has produced 2.375 million tonnes of pellets as against 2.238 million tons in 2019-20 fiscal and dispatched 2.356 million tonnes as against 2.206 million tonnes in 2018-19.

KIOCL chairman and managing director M V Subba Rao, announcing the performance of the company for the year 2019-20, said the export market has helped in improving the company’s performance.

KOCL Limited, a flagship company under the Ministry of Steel, has processed different types of ores received from different locations, including Iron ore slime to make charge mix economically viable.

Rao said the performance was highly appreciable as a merchant pellet producer, in the absence of captive raw material source after incurring huge logistic cost in moving the iron ore from east coast to our pellet plant at Mangaluru.

He also informed on contributing Rs 10.1 Crore to PM-CARES Fund which is in addition to one-day salary of the employees.

KIOCL Limited has also donated Rs 15 lakh to Karnataka CM Relief Fund. The KIOCL Limited has already started distributing face masks, sanitizers, hand gloves, free food etc, to the needy in Bengaluru and Mangaluru, a press release stated.