Date | Jan 24, 2017:
Neelachal Ispat Nigam (NINL) today announced plans for production of value-added products like wire rods and bars after achieving full capacity by June this year.
"NINL will start production in full capacity after the execution of capital repair of blast furnace by June 2017, following which we have plans for production of value-added products like wire rods and bars," NINL Chairman Ved Prakash told reporters here.
NINL is a joint venture integrated steel company with annual production of 1.1 million tonnes, promoted by MMTC Ltd and Odisha government (IPICOL, OMC) at Kalinganagar in Jajpur district.
Presently, it produces products like steel billets, pig iron and LAM coke along with coke breeze, crude tar, ammonium sulphate and granulated slag.
Ved Prakash, who is also the CMD of MMTC, described the clearance obtained for its mines as an important landmark for the company's turnaround. The mines are expected to be operational by April 2018, said the NINL Chairman, who met Odisha Chief Minister Naveen Patnaik earlier today and apprised him about the future action plan of the company.
Earlier, after specific clearance from the Ministry of Environment and Forests (MoEF), the mining lease of NINL was executed on January 11, 2017 after obtaining necessary approval from the Government of Odisha.
The Mines Development and Production Agreement (MDPA) was signed with the District Magistrates of Sundergarh and Kendhujhar districts respectively for 50 years of mines lease in 874 hectare area. NINL would start operation after obtaining Forest Stage I and II clearance from MoEF.
In November 2016, MoEF granted the environment clearance with proposed production capacity of 2.0 million tonnes per annum.
Ved Prakash said NINL is the only steel plant in Kalinganagar area which has not stopped for a single day despite stressed conditions prevailing in the steel industry.
(Source: http://www.business-standard.com/)