290.30 -3.25(-1.11%)
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Kudremukh Iron Ore Company Limited (KIOCL) is a Central Public Sector Undertaking under the Ministry of Steel and Mines having its Head Office in Bangalore; it has Pelletisation and Pig Iron plant units in Mangalore. KIOCL was established in 1976 as 100% Export Oriented Unit and is primarily engaged in the business of Iron Ore Mining, Beneficiation and Production of high quality Pellets. Company has diversified into Operation and Maintenance Services and Mineral exploration pertaining to various expertise. As of March 31, 2024, the Government of India held a 99.03% stake in KIOCL.The mine and plant facilities were commissioned in 1980 and the first shipment of concentrate was made in October 1981. A pelletisation plant with a capacity of 3 million tonnes per year was commissioned in 1987 for production of high quality blast furnace and direct reduction grade pellets for export. A 110 km road through ghats was built, and a slurry pipeline to Mangalore Port was completed and delivered on time, within the estimated cost of US$ 630 million.The company entered into Joint Venture with MECON & MSTC in order to set up a Pig Iron & Ductile Iron Spun Pipe Plant at Mangalore. For this purpose a separate company-Kudremukh Iron & Steel Company was set up. The complex was set up in Ba...