Indian ore pellet producer Kiocl Limited will begin supplying domestic steel to Rashtriya Ispat Nigam Limited (Rinl), ensuring the safety of raw materials for the latter, the Ministry of Steel said in a statement on Tuesday, August 19. While Rinl will receive guaranteed supplies at competitive prices.
KIOCL plans to supply at least 2 million tons per year of iron ore pellets, from its 3 million TONS plant in the southern city of Mangalore. Export-oriented block. Under the export scheme under consideration, production units were offered certain incentives to sell larger parts of the results abroad, and they were allowed only limited sales in the domestic market.
By relinquishing its status as a 100 percent export unit, the agreement with Rinl will offer KIOCL a ready market for its export-oriented output, industry sources report.
There are no comments yet.