Neelachal Ispat to produce billets, TMT bars to shore up bottomline

Steel PSU also plans to start Steel Melting Shop in two months; eyes turnaround in current fiscal

Steel PSU Neelachal Ispat Nigam Ltd (NINL), promoted jointly by MMTC Ltd and two Odisha government controlled companies, aims to produce billets and value-added products like TMT bars and wire rods in 2018-19. The products will be manufactured through a conversion process at its Duburi plant in Odisha’s Kalinganagar industrial complex.

Production of billets and value-added products is expected to shore up NINL’s bottomline which is eyeing a turnaround in this fiscal.

The public sector steel maker also has plans to start its Steel Melting Shop (SMS) in a span of two months. It aims to convert sizeable amounts of