Steel Minister lays foundation of coke oven plant with CAPEX of Rs836.90 crore at KIOCL; Stock dips 2%

21 Feb 2022 , 11:09 AM

KIOCL stock was in focus on Monday after Ram Chandra Prasad Singh,  Minister of Steel, Govt. of India, laid the Foundation stone for Coke Oven Plant. The proposed project is for the Setting up of 2.0 LTPA Ductile Iron Spun Pipe Plant under forward & 1.80 LTPA Coke Oven Plant under backward integration projects at Blast Furnace Unit.

The unit has a CAPEX at Rs836.90 crore and would take 24 months to complete from the date of placement of an order on the Main technological package supplier.

T Saminathan, CMD, KIOCL stated that with the suitable patronage and support of Steel Ministry, this Mini Ratna CPSU is all poised to get back its erstwhile shine and glory by demonstrating its core competency in Mining and Pelletization industry in the Country.

The Honorable Minister would be visiting the Kudremukh facility, Lakya Dam on February 21 (Monday) and the afforestation work carried out by the company.

At around 11.06 am, KIOCL was trading at Rs217.85 per piece up by 2.07% on BSE. The stock has touched an intraday high and low of Rs220.65 per piece and Rs215.80 per piece.