Steel Minister Dharmendra Pradhan unveils a host of projects of KIOCL

Subba Rao, CMD, KIOCL, while welcoming the dignitaries stated that with suitable patronage and support of Govt. of India in particular visionary.

Jun 23, 2021 02:06 IST India Infoline News Service

Minister for Petroleum & Natural Gas and Steel, Govt. of India, Dharmendra Pradhan has inaugurated new projects of KIOCL.

These projects as per the regulatory filing are:

1. Solar Captive Power Plant:

To develop Renewable Energy Projects in support of Gol’s National Solar Mission and to meet the power requirement partly for KIOCL units at Mangalore, KIOCL commissioned 8.0 MWac (6.5 MWp) Solar Power Plant at Kathrikehal Village, Chikkanayakanahalli, Tumkur District in Karnataka. The plant was completed with the project cost of Rs 24.44 Crores (Excluding GST) in March 2021.

KIOCL had entered into an agreement with KPTCL, BESCOM & MESCOM for wheeling of the power generated at the Solar Power Plant. The power is being consumed in the Pellet Plant of KIOCL at Mangalore.

The estimated power generation from the plant is 10 million kWh per annum (10,000 M Watt-hour) and approximate savings from this Plant is Rs 6.2 crores per annum, payback period is 4 years 8 months. The estimated life cycle of this plant is 25 years.

2. Inauguration of Oxygen Generator Plant at AIMS, Karnataka:

KIOCL has always been a front-runner in its obligations towards Corporate Social Responsibility. With hundreds of Covid-19 patients gasping for breath due to shortage of medical oxygen at hospitals across states, to fulfil the emergency medical oxygen requirements in the State and also on the request of Dr C. N. Ashwathnarayan, Dy. Chief Minister of Karnataka, KIOCL provided medical oxygen manufacturing units of capacity 1000 cu.m. per day to supply 143 cylinders/day for the Adichunchanagiri Institute of Medical Science (AIMS), BG Nagar, Nagamangala Tq. Mandya Dt. Karnataka under CSR activities of the Company. The cost of the Unit is Rs. 90 lakhs.

3. Installation of a Barrel Type Blender Reclaimer:

As part of the modernization of the 3.5 MTPA capacity Pellet Plant, KIOCL has installed a Barrel type Blender Reclaimer of 1000 tons per hour capacity at a total project cost of Rs.17.50 Crores. Barrel type Blender Reclaimers homogenously blends different types of iron ore fines received from various sources by its forward and backward movement, thereby helps in increasing the operational flexibility.

By adding the above two facilities, Pellet Plant can use different types of Iron ores, enhance productivity, flexibility in operations and achieving in the manufacture of good quality pellets.

4. Donation of 50 Beds at Govt. Hospital, Moodabidri, Mangalore:

The company has donated 50 beds to Govt. Hospital located at Moodabidri for Covid patients. The company spent around Rs. 18 Lakhs for providing beds at Govt. Hospitals in DK Dt. The above initiative was taken as per the request of Hon’ble MP Shri Nalin Kumar Kateel, and the local administration to provide a total of 100 beds to treat Covid Patients.

During the programme, the Hon’ble Minister appreciated the efforts put in by KIOCL in entering the field of solar energy for setting up a 5.0 MWac (6.5 MWp) Mw Solar Power plant in Tumkuru dist. of Karnataka. This proposed project would support the National Solar Mission programme of Govt. of India. He expressed that keeping the above background and the experience to diversify & expand KIOCL’s operation will create job opportunities and boost the economy.

Pradhan said that India must be protected from the 3rd wave of COVID, and vaccination is the only way for that. The minister said that yesterday was also the international day of Yoga, and yoga is an apt way of fighting the disease. He also lauded the Karnataka government for active participation in the vaccination drive and being the second-largest state in the country to have vaccinated 8.72 lakh, people, yesterday.

He also said that “Steel industry has been at the forefront to meet the challenge when there was unprecedented demand of medical oxygen in the country. Today the country is better equipped to handle any situation”.

Subba Rao, CMD, KIOCL, while welcoming the dignitaries stated that with suitable patronage and support of Govt. of India in particular visionary of Hon’ble Minister for Petroleum, Natural Gas & Steel, Steel Ministry and the Govt. of Karnataka, this Mini Ratna CPSU is all poised to get back its erstwhile shine and glory by demonstrating its core competency in Mining and Pelletization in the Country.

At around 2.11 pm, KIOCL was trading at Rs274.60 per piece down by 0.24% on Sensex. 

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