Bengaluru | November 1, 2017: The Centre is planning increased use of pellets as a raw material in the blast furnaces of integrated steel plants in the country.

Union Minister of Steel Chaudhary Birender Singh, who participated at KIOCL’s programme of ‘Rashtriya Ekta Divas’, said the pellets are converted out of iron ore fines and beneficiated low grade ore, which are abundantly available in mine heads. KIOCL, being pioneer in the pelletisation industry, can contribute immensely in utilising these resources, he said.

The focus of NDA government is to ensure a quantum jump of steel exports and India emerge as a net exporter of quality steel. “It is very important that we ensure quantum jump in production of steel and also that whatever the country produce produc it should be consumed and imports minimised. We are trying to have Joint ventures with foreign companies which has latest technology and produce high-end steel which is used for defence and automobile purposes,” he said.

Urging the steel producers especially PSUs to take the lead in increasing steel exports from India saying that the current share of steel exports was just 1.4 per cent and it should be enhanced up to 5 to 6 per cent. Singh said minimum import price restrictions and anti-dumping measures had helped bring down steel imports by nearly 40 per cent.

He further said in the 2017 steel policy the government had targeted to create a capacity of 300 million tonnes of steel in the country and also to produce 260 mt of steel.

“The policy has made it clear, any transfer of technology or the response for FDIs would be welcomed by our ministry,” he added.

CMD (Addl. Charge) & Director (Commercial), KIOCL Subba Rao made a presentation on the expansion and diversification plan of the company along with plans for Vision 2020-22 .

Rao apprised Union Minister of the challenges faced by the company on closure of its Kudremukh mines and said that the Karnataka government has allocated an iron ore mine at Devadari, Bellary district to the company.

(Source: http://www.thehindubusinessline.com/)