August 28, 2014 11:36 PM ET

Metals and Mining

Company Overview of KIOCL Limited

Company Overview

KIOCL Limited engages in manufacturing and exporting iron oxide pellets. It supplies pig iron for domestic market. The company offers iron ore concentrate for use as sinter feed and for pelletisation; and pellets for blast furnaces and direct reduction plants, as well as for steel plants in Australia, China, Japan, Taiwan, Turkey, Hungary, Yugoslavia, the United States, West Germany, Poland, Czechoslovakia, Indonesia, and India. It exports its products to China, Japan, Iran, and Taiwan. KIOCL Limited was formerly known as Kudremukh Iron Ore Company Limited. KIOCL Limited was founded in 1976 and is based in Bengaluru, India.

II Block

Koramangala

Sarjapura Road

Bengaluru,  560034

India

Founded in 1976

Phone:

91 80 2553 1461

Fax:

91 80 2553 2153

Key Executives for KIOCL Limited

Chairman and Managing Director
Age: 51
Director of Finance
Chief Vigilance officer
Company Secretary and Member of Share Transfer Committee
General Manager of Personnel
Compensation as of Fiscal Year 2014.

KIOCL Limited Key Developments

Steel Authority of India to Form Joint Venture with KIOCL, Ltd

Steel Authority of India (SAIL) and KIOCL Ltd. are planning to form a joint venture (JV) to set up an oven battery and a captive power plant in Karnataka, India with an estimated investment of INR 4,500 million ($73.73 million).

KIOCL Mulls Acquisitions

KIOCL Limited is seeking acquisitions. Malay Chatterjee, Chairman and Managing Director of KOICL said, "KIOCL being a PSU under the ministry of steel is also a partner in prospecting and looking for valuable mining assets abroad along with its sister PSUs such as NMDC Limited, MOIL Limited and Steel Authority of India Limited. In the past, we have made some efforts in West Africa for scouting iron ore assets which has not been very encouraging due to size of investment and logistics. However, recently a team from steel ministry had made an effort for scouting mining assets in South American countries such as Brazil, Peru and Chile and we are very much a member of this consortium which is looking into various aspects of due diligence for acquisition of such assets."

KIOCL Mulls Assets Acquisitions

KIOCL Limited is seeking to acquire iron ore assets abroad and is conducting due diligence in a bid to acquire the assets, Beni Prasad Verma, India's Steel Minister said on October 18, 2012. However, the ministry has not revealed details of where the company is looking to buy assets.

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