KIOCL PAYS RS. 21.99 CRORE DIVIDEND

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Kudremukh Iron Ore Company Ltd. (KIOCL), a public sector undertaking of the Steel Ministry has paid dividend of Rs. 21.99 crore to the Government of India for the financial year 2001-02. The cheque was formally handed over today to the Union Minister for Steel Shri B.K. Tripathy by the Chairman-cum-Managing Director, Shri S. Murari. Shri N.N. Khanna, Secretary (Steel) and other officials of the Ministry of steel were present on the occasion. KIOCL is a 100 per cent export oriented unit; has got ISO 9001:2000 and ISO 14001 certification to its credit and has been conferred with a Golden Star Trading House Status.

KIOCL continues to maintain its profit making dividend paying streak since last ten years. The sales turnover was Rs. 722 crore during 2001-02 and the total dividend payout was Rs. 22.21 crore. The company produced 5.41 million tonnes (MT) of concentrate and 3.215 MT of pellets during the year 2001-02. The exports were of the order of 2.306 MT of concentrate and 3.211 MT of pellets. The performance of KIOCL was rated excellent under the MOU.

During the first half of the current financial year, the company’s plants produced 2.555 MT of concentrate and 1.871 MT of pellets. During these six months it has exports 0.888 MT of concentrate and 1.907 MT of pellets. The sales were of the order of Rs. 364 crore.

KIOCl’s schemes for environmental protection and maintenance ecological balance in the Western Ghats are continuing.