STEEL CONSULTATIVE
COMMITTEE DISCUSSES KIOCL ISSUES
The Members of the
Consultative Committee of Parliament attached to the Steel Ministry,
while reviewing the activities of the Kudremukh Iron Ore Company
Ltd. (KIOCL) here today, hailed its achievements during 2001-02
and first half of this fiscal. The chairman of the committee,
the Minister for Steel, Shri B.K. Tripathy informed that company
has made a record turnover of Rs.722 crore during the year 2001-02.
It has also made a net profit of Rs. 88 crore during the year.
A 100 per cent export oriented and a mini-ratna public sector
unit of the steel ministry , KIOCL has paid Rs.22 crore dividend
to the Government for the last financial year . He said that during
the first half of the year 2002-03 ,it has shown further improvement
by achieving a sales turnover of Ra. 364 crore and net profit
of Rs.49 crore .
The Minister said
that KIOCL is the first large-scale magnetite iron ore mining
project in India engaged in commercial exploitation of low grade
iron ore. It is the first company to operate long distance iron
ore slurry pumping operation in India with pipeline spanning over
a stretch of 67 kms. It has provided employment to nearly 3000
employees. KIOCL has earned reputation for delivering quality
iron ore products worldwide at competitive prices and as per the
agreed delivery schedule. The steps taken by the company to maintain
the ecology and environment of the area is praiseworthy.
Shri Tripathy said
that the company has applied for the extension of its mining lease
for 20 years. But some NGOs have filed a writ petition in the
Supreme Court against the State Government and the Centre opposing
the extension of lease. During the course of the review the members
of the committee expressed deep concern over the hardship, which
will accrue to the workers and to this backward area of Karnataka,
in case the lease is not renewed for a long term. They urged all
concerned to take this hardship to account before taking any final
decision.
Following members
of Parliament were present- Shri Tarachand Sahu, Shri Sunil Khan,
Shri Hema Gamang, Shri Shriram Chauhan, Shri Shibu Soren and Shri
Jibon Roy.
