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Print[Ferro-alloys.com]Kolkata, April 2: Neelachal Ispat Nigam Ltd (NINL), an MMTC-controlled pig iron exporting joint venture company, has begun making steel billet also. NINL on Tuesday announced commissioning of its Rs 1,650 crore billet-making facilities at Kalinganagar in Odisha.
“This is significant for NINL as demand for and price realisation of billets is better in the current market scenario than the pig iron,” MD S.P. Patnaik told Business Line from Bhubaneswar.
According to Director (Finance) S.P. Padhi, the production of value added product like billet compared to pig iron, will give better sales realisations and improve NINL’s financial performance.
Because of paucity of demand for pig iron, NINL utilised half of its rated pig iron capacity at four-lakh ton in 2012-13. “In 2013-14, we target to produce pig iron and billets of four lakh tonne each. This product mix will give us better profitability”, Patnaik said.
MMTC will market and export NINL products including billets, pig iron and coke.
Patnaik said NINL has also decided to increase its hot metal production from 1.1 million ton to 3 mt a year with an addition of a blast furnance, a seven-meter coke oven battery and a 60-MW thermal power unit. “The plans are on the drawing board,” he added. NINL’s debt-equity stands at 1.5:1.
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