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The Union Steel Minister Chaudhary Birender Singh has sought the involvement of KIOCL Ltd (formerly Kudremukh Iron Ore Company Ltd) in exploring the potential of Chabahar Port in Iran.
In a chat with presspersons after inaugurating the 1.3-MW solar plant at KIOCL’s blast furnace unit in Mangaluru on Wednesday, Singh said that Chabahar Port has a lot of meaning in the context of KIOCL.
Stating that a sense of involvement is required from the company in this matter, he said the Steel Secretary is keen to know what kind of participation KIOCL can have with Chabahar Port.
Asked what exactly KIOCL can do in Chabahar, Singh said pellet production is the main area of business of KIOCL. The company can explore other possibilities when it gets connected with the activities of the Chabahar Port.
The company can think of setting up a pellet plant there, if there is a scope for that. Since India is the second largest producer of steel in the world and Iran is the nearest destination for KIOCL it will be a win-win situation for both the countries, he said.
Binoy Kumar, Steel Secretary, who accompanied the Minister, said that KIOCL has to diversify if it wants to become a maharatna company from the present miniratna status. Apart from exploration within the country, the company can also explore abroad.
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