The NINL steel plant, with an annual capacity of 1.1 million tons, is located in the Duburi region of Orissa, India. Its shareholders include two state-owned enterprises and other government agencies, of which the largest shareholder, Minerals and Metals Trading Corporation-MMTC, holds 49.9%.
MMTC has tendered publicly and plans to purchase 63.5% lump ore of 16,000 tons from two miners, Joda and Barbil. MMTC also plans to purchase at least 80,000 tons of iron ore of 62% grade every month. To this end, MMTC has issued invitations for tenders to miners and traders in order to attract companies willing to supply to participate actively in bidding.
In order to maintain the daily average hot metal production at the level of 3500 tons, NINL's demand for iron ore is increasing day by day. After the completion of blast furnace maintenance, NINL has been equipped with the conditions and capacity to substantially improve its hot metal and pig iron production.
NINL's earnings before interest, tax, depreciation and amortization (Ebitda) for the period from April to August were 4,000 rupees per ton (about $57 per ton), which was negative in the same period last year.
NINL Steel Workshop (SMS) started billet production earlier this month as part of NINL's diversified product development strategy, with the aim of rapidly entering the top domestic steel producers.
NINL, India's largest pig iron producer and exporter, is striving to turn losses into profits after successfully completing blast furnace maintenance in April. Adding billets to the diversified product portfolio will help the company advance its plan of turning losses into profits and realize profits as soon as possible.
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