Pics: Abhijith N Kolpe

Daijiworld Media Network - Mangaluru (ANK)

Mangaluru, Jan 30: Union minister for Steel Chaudhary Birender Singh inaugurated solar power plant and laid foundation stone for modernisation of blast furnace unit here at KIOCL Limited at Panambur on Wednesday, January 30.

Addressing the gathering, Chaudhary Birender Singh said, "KIOCL Limited has made progress in the area by setting up solar power plant of 1.3mw capacity. KIOCL being an eco-friendly and socially responsible corporate house with a name for quality and expertise, has earnestly pursued excellence in fields of its core business of iron ore mining, beneficiation and pelletization from the last four decades. 

"KIOCL Limited during its first half of financial year 2018-19 has reported a PBT of Rs 59.12 crore and PAT of Rs 45.89 crore against Rs 10.44 crore and Rs 8.35 crore respectively of the previous financial year. I appreciate the efforts put in by KIOCL towards Make in India programme of government of India by exporting a considerable quantity of pellets by importing high grade raw materials which is not available in India from offshore sources. 

“KIOCL has entered into the field of renewable energy in setting up of a solar plant. You have already set up a 380kwp roof top solar power plant at the existing buildings located at pellet plants and blast furnace units at Mangaluru and today I am happy to dedicate to the nation, the solar plant of 1.3Mw capacity. I expect KIOCL to complete the other 5mw proposed solar power plant within the time schedule,” he said. 

MP Nalin Kumar Kateel said, "Today, KIOCL Limited has taken the step to set up solar power plant with a capacity of 1.3 MW. There were a lot of issues at KIOCL pertaining labour and salary which was been addressed and resolved,"

“Since 2014 under the aegis of Prime Minister Narendra Modi, several development works have taken place. We are not known for publicity, as our work should do the talking. This is Modi's vision. MCF was on the verge of closure. Timely decision helped in saving MCF,” he added. 

A MoU was signed with National Institute of Technology Karnataka for taking up the R&D projects together in the areas of beneficiation and pelletization of iron ore and other projects. 

Chief managing director KIOCL Limited M V Subba Rao welcomed the gathering. Binoy Kumar, secretary, Ministry of Steel, T Srinivas, joint secretary and others were present.