KIOCL temporary suspends operation of Pellet Plant due to export duty levy

24 Aug 2022 , 01:08 PM

KIOCL Limited has informed to the exchanges regarding temporary shut-down of Pellet Plant Unit at Mangalore w.e.f. August 23, 2022.

In a regulatory filing, the company said that operations of its Pellet Plant at Mangalore has once again been temporarily suspended w.e.f. August 23, 2022 due to shed full condition and resulting out of lack of demand in domestic market, unviability in international market in view of levy of duty on export of Pellets by Indian Government vide its notification dated May 21, 2022.

“We shall keep the stock exchange informed as soon as the operations at pellet plant start its operations”, the company said.

At around 1;08 PM, KIOCL Ltd is currently trading at Rs191.85 per share up by Rs1.25 or 0.66% from its previous closing of Rs190.60 per share on the BSE.