|Indian plant may import iron ore from Iran||
If everything goes as per plan, the KIOCL Limited Mangalore plant will be importing iron ore from Iran soon.
KIOCL Limited chairman-cum-managing director Malay Chatterjee said that the Union ministry of steel is planning to have a bilateral cooperation with the government of Iran. "The export price has crashed and it is not competitive now. We are now planning to have a bilateral cooperation with the government of Iran. On rupee trade mechanism, KIOCL is proposing to open an export trade mechanism. A meeting in this regard between two countries has been held in New Delhi, wherein we are now working on how best their ore can come to our plant and it can be converted into pellets," Chatterjee said adding that Iran has good deposits of iron ore though not of high grade.
"We are ready for the trade with Iran and our ministry too is highly supportive. We have a capacity of 4 million tones a year in our plant. Let us see the outcome," Chatterjee said and blamed the state government for not permitting iron ore mining in the state.
In addition, he said, "Some of our pellets converted from ore of India, which is in excess, can be exported to Iran because they have very big demand. For the next five years, they have demand to import more than 30 million tons of iron pellets," he said.
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