KIOCL, SAIL ink pact to set up pellet plant

Pellet maker KIOCL Wednesday said it has entered into an agreement with Steel Authority of India Ltd (SAIL) to set up a pellet plant.

In December 2018, KIOCL had said it was planning to sign a memorandum of understanding (MoU) with SAIL to set up a pellet plant under a joint venture (JV).

"KIOCL inked pacts with the largest steel producer of India SAIL...for setting up of pellet plant, exchange of knowledge and expertise in presence of Steel Minister Chaudhary Birender Singh today at Mangaluru," KIOCL said in a tweet on Wednesday.

KIOCL in December also said the company has already diversified in the field of O&M (operation and maintenance) services and proposes to expand its operation in other parts of the country by setting up a new pellet plant.

KIOCL, under the steel ministry, has an iron oxide pellet plant with a capacity of 3.5 million tonne per annum at Mangaluru in Karnataka.