Steel giant SAIL is planning to buy a 51% stake in Odisha government-run pig iron producer IDCOL Kalinga Iron Works (IKIWL) which is a wholly-owned subsidiary of the Industrial Development Corporation of Orissa (IDCOL). IDCOL has submitted a proposal offering 51 percent of its share to SAIL. This proposal is presently under consideration of SAIL.
The company is producing foundry grade pig iron with installed capacity of 1.80 lakh tonnes having four low shaft blast furnaces and is supplemented with the Captive Power Plant of 16 MW capacity. It also manufactures cast iron pipes with an installed capacity of 31,200 tonnes per annum. The plant is situated in the midst of richest iron ore and manganese ore deposits in Keonjhar district of Odisha, within the municipal area of Barbil.
SAIL is India's largest steel producing company. The company is among the five Maharatnas of the country's Central Public Sector Enterprises. The company has five integrated steel plants, three special plants, and one subsidiary in different parts of the country.
