NINL registers highest pig iron export in H1

By Our Correspondent

Bhubaneswar, Oct. 4: Neelachal Ispat Nigam Limited (NINL), a joint venture between Metals and Minerals Trading Corporation of India (MMTC) and Odisha government located Kalinga Nagar in Odisha’s Jajpur district, has achieved another milestone by exporting 2,25,891 tonnes of pig iron in the first half of the current fiscal.This is the highest export figure after 2007-08 fiscal when the company had witnessed H1 export of 1, 95,473 tonnes of pig iron.NINL mainly supplies pig iron to South East Asian countries.NINL, the highest pig iron exporter in the country, had on May 31 commissioned its steel making shop.NINL recently scaled up its pig iron production after iron ore rates went up after weeks of dull trade in international markets.Sources said the public sector unit is currently getting “better” enquiries for its products.The company benefited immensely in the last couple of months by a sharp drop in rupee against the dollar.NINL produces around 5.5 million tonnes of pig iron every year. The company incurred a nearly Rs 100-crore loss in the last financial year because of poor demand for pig iron in both global and local markets.The company is jointly promoted by MMTC Ltd and the Odisha government. MMTC floats all tenders on behalf of NINL for pig iron export as well as coking coal import.