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VSP looking forward to IISCO ore supply

By Our Staff Correspondent

KOLKATA. JAN. 28. Vizag Steel is looking forward to 15 per cent ore supply from the Chiria mines of Indian Iron and Steel Company (IISCO) and finalising a contract with the Orissa Mineral Development Corporation (OMDC) to maintain assured supply of raw material in the next fiscal. The bulk of the requirement, however, would be met through the existing supplier, National Mineral Development Corporation (NMDC).

The company also undertakes a host of projects including automation of the continuous casting plant and degassing facility to outstretch the steel making capacity further and cut down the pig iron production and divert more steel towards value added items.

Diversion of at least one million tonnes steel towards value added products is aimed to beat the pressure on margins in the face of a sharp rise in raw material costs.

Talking to The Hindu the company Chairman-cum-Managing Director, B. K. Panda, said while decision of the SAIL board to allow joint mining of ore from IISCO was awaited, the company was expecting an investment of about Rs. 500 crores in next three years for mechanisation and corresponding enhancement of production of Chiria.

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