ALSO READMMTC will infuse Rs 150 core capital in Neelachal Ispat Nigam Ltd JSW Steel plans tie-up with OMC for long-term iron ore linkage Steel units in Odisha resent high pricing of OMC's iron ore High floor price deters buyers at OMC iron ore auctions Iron ore exports to lose steam in FY18 on weak price outlook
State-run trading company Metals and Minerals Trading Corporation of India (MMTC) has invited global tenders from interested foreign buyers for export of non-alloy pig iron. The pig iron has been produced by public-sector steel company Neelachal Ispat Nigam Ltd (NINL), in which MMTC is the largest equity holder. The exports of pig iron of up to 30,000 tonnes would be canalised through MMTC. The material is to be shipped through the Paradip port. In FY17, NINL produced 0.51 million tonnes of pig iron and sold 0.5 million tonnes (mt). In the first two months of 2017-18, NINL's pig iron sales has not matched its production. In April, the steel maker produced 55,949 tonnes of pig iron but managed to sell 29,949 tonnes.NINL has become the country's largest exporter of saleable pig iron since 2004-05. Pig iron and LAM (low ash metallurgical) coke produced by NINL has established its acceptance in domestic as well as in the international markets. The company is widely catering to the demands of eastern, central and northern regions of the country for pig iron apart from exports. It is supplying LAM coke to almost all steel plants of Steel Authority of India Ltd (SAIL) and Rashtriya Ispat Nigam Ltd (RINL), Vishakhapatanam. NINL — promoted by MMTC, Industrial Promotion & Investment Corporation of Odisha Ltd (Ipicol), OMC and other government agencies — has set up an 1.1 million tonne integrated iron and steel plant at Kalinganagar, Odisha. Presently, the products are steel billets, pig iron and LAM (low ash metallurgical) coke along with nut coke, coke breeze, crude tar, ammonium sulphate, granulated slag, etc. It has chalked out a plan to achieve steel output of five mtpa in two phases. Full capacity expansion estimated to cost Rs 25,000-30,000 crore, is slated to be achieved by 2025.