Neelachal Ispat Nigam (NINL) commissioned its Rs 1,650 crore steel billet-making facility at Kalinganagar in Odisha.
The company set up the facility to manufacture billet, which is a value added product compared to pig iron and which gives better sales realisations.
NINL, whose main activity is manufacturing of pig iron, said producing billets could improve the financial performance of the firm.
It is learnt that the company utilised half of its rated pig iron capacity at 4 lakh tonne in 2012-13 because of lack of demand for pig iron.
In 2013-14, the firm aims to produce pig iron and billets of 4 lakh tonne each. MMTC will market and export NINL products including billets, pig iron and coke.
The firm has also decided to increase its hot metal production from 1.1 million tonne to 3 mn t a year with an addition of a blast furnance, a seven-metre coke oven battery and a 60-mw thermal power unit. The plans are said to be on the drawing board.
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