Odisha Chief Minister Naveen Patnaik has assured full support to the Kalinga Nagar-based steel public-sector undertaking (PSU) Neelachal Ispat Nigam Limited (NINL) for its sustainable operation and growth.
NINL top management, led by Chairman Ved Prakash (also chairman & managing director of MMTC), S D Kapoor and D P Bagchi, both directors with NINL, and S S Mohanty, vice-chairman & managing director of NINL, called on the chief minister, chief secretary and other senior officials of the state government and apprised them of the company’s present status.
With the steel scenario looking up, NINL has plans for a turnaround of the company. Also, with the completion of its blast furnace capital repair, the operationalisation of the 110 million tonne captive mines and full capacity utilisation of the steel melting shop (SMS), NINL will have the potential of becoming one of the leading producers of steel in the state.
NINL has started work on its blast furnace capital repair. The blowdown process of the blast furnace began on November 26 last year and, subsequently, the capital repair work would begin from November 30. The whole exercise is aimed to be completed in 90 days.
Besides the production of pig iron, with an improved hot metal production, NINL plans to regain steel billet production after restarting the steel melting shop in full capacity. That will help the company fetch more profit.
Apart from MMTC, which owns a 49.78 per cent equity in NINL, two Odisha government PSUs – Odisha Mining Corporation (OMC) and Industrial Promotion & Investment Corporation of Odisha Ltd (Ipicol) have stakes in the steel project. NINL's current product portfolio comprises steel billets, pig iron and LAM (low ash metallurgical) coke and nut coke, coke breeze, crude tar, ammonium sulphate and granulated slag.