India: KIOCL Surpass Pellet Sales Targets in Q1 FY19

The pellet production by the company recorded at 0.44 MnT in Q1FY`19 as against the laid target of 0.46 MnT for the quarter.

Earlier  KIOCL has recorded a robust improvement in pellet production to 2.33 MnT in FY`18 increase of 59% against  last year which was 1.46MnT. The company has witnessed sharp increase of 73% to 1.59 MnT pellet export during  FY`18 against 0.92 MnT in FY`17.

Amidst increasing pellet demand in global market as evident from rising prices, the company is looking forward to shift to imports for raw materials to fetch the benefits of prevailing market opportunities, said Mr. MV Subba Rao.

RINL to source pellets from KIOCL`s new pellet plant 

KIOCL is to set up 1.2 MnT pellet plant in Vishakhapatnam, Andhra Pradesh and the new plant will supply pellets to Vizag Steel plant (RINL). The iron ore fines to the plant will be supplied from the mines situated in Bellary district, Karnataka.

The company is working to diversify its products range, to enter into coal mining and is working to enhance the capacity of its pellet plant in upcoming years.