Comments
Neelachal Ispat Nigam Ltd (NINL), an MMTC-controlled pig iron exporting joint venture company, has begun making steel billet also. NINL on Tuesday announced commissioning of its Rs 1,650 crore billet-making facilities at Kalinganagar in Odisha.
“This is significant for NINL as demand for and price realisation of billets is better in the current market scenario than the pig iron,” MD S.P. Patnaik told Business Line from Bhubaneswar.
According to Director (Finance) S.P. Padhi, the production of value added product like billet compared to pig iron, will give better sales realisations and improve NINL’s financial performance.
Because of paucity of demand for pig iron, NINL utilised half of its rated pig iron capacity at four-lakh tonne in 2012-13. “In 2013-14, we target to produce pig iron and billets of four lakh tonne each. This product mix will give us better profitability”, Patnaik said.
MMTC will market and export NINL products including billets, pig iron and coke.
Patnaik said NINL has also decided to increase its hot metal production from 1.1 million tonnes to 3 mt a year with an addition of a blast furnance, a seven-metre coke oven battery and a 60-MW thermal power unit. “The plans are on the drawing board,” he added. NINL’s debt-equity stands at 1.5:1.
> jayanta,.mallick@thehindu.co.in
Comments
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.