Public sector steel producer Neelachal Ispat Nigam (NINL) has struck a deal with Power Grid Corporation of India (PGCIL) for supply of steel billets. Initially, NINL will provide billets to PGCIL for one year.
PGCIL will use the MS channels and angles produced from NINL steel billets for electrical transmission towers across the country.
NINL, jointly promoted by MMTC and two Odisha government PSUs, operates a 1.1 million tonnes per annum (mtpa) steel plant at Duburi within the Kalinganagar Industrial Complex touted as the steel hub. NINL has branched into steel billets production to shore up margins. The public sector steel manufacturer is eyeing a major share in the special grade steel billet supply for the power transmission and distribution segment, which is growing in accelerated pace in the country. NINL is also going to market its own brand of TMT, wire rods and structures through conversion agents. Billets produced by NINL has already been widely accepted and has immense value.