Financial Daily from THE HINDU group of publications
Wednesday, May 21, 2003
Financial Daily from THE HINDU group of publications Wednesday, May 21, 2003 |
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Corporate
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Announcements NMDC clarifies on iron ore supply to RINL Our Bureau
VISAKHAPATNAM, May 20 THE National Minerals Development Corporation (NMDC) has issued a clarification that Rashtriya Ispat Nigam Ltd (RINL), the steel plant here, is being supplied the required quantity of iron ore and that it would be kept up in future too. Mr C. Hanumantha Rao, Chief General Manager, said on Tuesday that there was never any problem in supply of iron ore to the plant. On Monday, three rakes (roughly 10,000 tonnes) had been supplied and on 7,000 tonnes more Tuesday. "The plant's daily requirement is 4,500-5,000 tonnes and there is no problem in keeping up the supply,'' he added. Iron ore is mined at Bailadilla by the NMDC and supplied to the steel plant. It is also exported abroad by the Minerals and Metals Trading Corporation and in 2002-2003, iron ore exports through Vizag port touched the 10-million mark. However, it is learnt that the NMDC has been a trifle slow of late in supply of iron ore to the steel plant and 40,000-45,000 tonnes of committed quantity of ore would still have to be supplied to the plant to maintain comfortable inventory levels.
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