KIOCL Chairman MV Subba Rao: "We have a great future"

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KIOCL Chairman MV Subba Rao: "We have a great future"

KIOCL Chairman MV Subba Rao: "We have a great future"

Brian Fernandes   ¦    Feb 06, 2019 02:48:36 PM (IST)

KIOCL Chairman MV Subba Rao: \"We have a great future\"-1

Shri MV Subba Rao, Chairman and Managing Director, Kudremukh Iron Ore Company Limited (KIOCL), visited the offices of (NK), Karnataka's premier pan karnataka news portal in the city. Unassuming and highly knowledgeable, the NK team and I personally found delight and enlightenment in interacting with him. We had a sit down chat and it covered the past, the present and the future of KIOCL, the pride of Karnataka.

KIOCL Limited, a flagship Company under the Ministry of Steel, Government of India, with Mini Ratna status was formed in 2nd April 1976. It is also Karnataka's Pride. The country's prestigious Export Oriented Unit having expertise in Iron Ore Mining,Filtration Technology & Production of high quality Pellets has its Corporate office at Koramangala, Bangalore & Pelletization Complex and Blast Furnace Complex at Mangalore, the coastal city of Karnataka. They have set themselves lofty objectives, but they are also meeting them through hard work, innovation and determination.

These objectives include 

Growth through expansion and diversification; Exploring new markets and segments; Being competitive through cost reduction by change in processes; Opening new vistas of business by creating diversified Business Units; Investing in the capacity building of personnel for improving heir knowledge, skill & attitudes.

As things stand, they are also well on their way to achieving their Vision & Mission. Vision: To emerge as a world class mining company with the highest international standards of quality, productivity, technological & environmental excellence and also as a leader in Beneficiation & Pelletisation Industry in India and establish a global credence. And Mission: Lasting relations with customers and Vendors to ensure smooth supply chain based on trust and mutual benefits; Business with ethics & integrity; To thrive to improve the socio economic condition in the neighbourhood of Company’s production centre; Continuous learning; Adaptability to Technology and changing Global Scenario; Growth, recognition and reward for employees.

Current Scenario
The annual capacity of the Pellet Plant is to produce about 3.5 Million tons of Iron ore Pellets. Other facilities include Reclaimer to load Pellets directly from Stockyard to vessel. Pellets produced at the Mangalore Plant have excellent metallurgical properties and are an ideal feed for Blast Furnace and DRI Units.KIOCL has to its credit ISO 9001:2008, ISO 14001:2004 & OHSAS 18001:2007 certifications.

KIOCL has dedicated and experienced senior level staff having more than 25 years of experience in Operation and Maintenance of Beneficiation and Pelletization Plant. KIOCL has already entered into several O&M works across India. It has entered O&M contract with NMDC for Iron Ore Beneficiation and Pelletization Plant, O&M contract with M/s Orissa Mining Corporation (OMC) to operate and manage 1.4 MTPA Chrome Ore Beneficiation plant at Kaliapani Odisha and had Operated Coke Handling System(Crusher Conveyors) of M/s MRPL,Mangaluru.

Under the Make in India initiative of Government of India, KIOCL produced high grade Pellets out of imported high grade ore procured from Brazil and exported.

In order to support and participate in the National Policy on Skill Development of Govt of India, KIOCL has entered into MoU with National Skill Development Corporation and Quess Corporation Ltd an approved NSDC Partner, which envisages conducting training programme for employees, contract workers, local youth, women and disadvantaged groups and employees of other establishments including CPUs on their behalf.

Future Plans
KIOCL's short and medium term plans include the following:
Development and Mining of Block No. 2 in iron ore Mines Chikkanayakanahalli, Karnataka
Obtaining iron ore and other minerals mining leases in India through reservation route and auction process
Optimizing Blast Furnace Unit for profitable operation
Setting up of R&D Centre in Karnataka for iron ore beneficiation technology and pelletization
Implementing Backward and Forward Integration Projects at Blast Furnace Unit Mangalore
Undertaking exploration work for minerals under National Mineral Exploration Policy
Operation and Maintenance of Beneficiation Plant and Pelletization Plants owned by other Companies

While their long term plans envisage the following
Acquisition of Iron Ore and other minerals Leases overseas
Development of Nemakal Iron ore mines at Ananthapuram District, AP and setting up of a crushing and beneficiation plant & Pellet Plant
Setting up of Ultra Mega Integrated Steel Plant in Karnataka under Ministry of Steel vision 2020
Setting up of Pellet Plant and matching capacity Beneficiation Plant for Steel PSUs under BOO basis
Setting up of Permanent Railway siding and Bulk Material Handling at Mangalore
Setting up of 13 mtpa Slurry pipeline, 8 mtpa Filter Plant and 6mtpa pellet plant through JVC
Acquisition of smaller Steel Mills, Sponge Iron Plants and other value added plants

They also intend to diversify into other releated areas of production such as:
Setting up of Coal Washery Project on BOOT basis, Sri Swapan Kumar Gorai, Director (Finance),
Acquisition of coal blocks for commercial mining
Developing and operating Greenfield/Brownfield mining projects
Setting up of Solar Power Plants

KIOCL's Board, ably led by their Chairman and Managing Director Shri MV Subba Rao and consisting of Sri N. Vidyananda, Director (Production & Projects), Sri T Saminathan Director(Comml), and non functional Directors, Sri. Saraswati Prasad, Special Secretary & Financial Adviser, Ministry of Steel, Govt. of India, Sri. T. Srinivas, Joint Secretary, Ministry of Steel, Govt. of India,Sri. Madhav Lal, Independent Director, Dr. Deepika Sharma, Independent Director, CA Jagdish Purushottam Joshi, Independent Director is making their vision a reality. But the real secret of their success, is the drive and determination that Shri MV Subba Rao brings to the table.

Shri Rao started his professional career as a Production In-charge with M/s Mittal Group and later on shifted to M/s A.P Steels Ltd., (A PSU under AP Govt.), Vikram Ispat (A unit of Grasim Industries Ltd.,) for career growth. He has led number of pioneering projects viz., Introduction of Gas based DRI/ HBI in primary & secondary steel sectors. But his tenure as As Chairman-cum-Managing Director of the Company has been special.

Shri Rao, with his commercial acumen and positive outlook, has established sustainable business relationships with customers, partners, suppliers and stakeholders across the world. A scrupulous planner and a fast-pace executor, makes sure that the business continues to grow by way of developing new market opportunities whilst maintaining existing customer base. He has been the idea behind various strategies which led KIOCL towards revenue and profitability growth. He has been instrumental in improving the bottom line of the company through various approaches viz., finalizing the sale order for disposal of Kudremukh assets, breaking the deadlock by opening up for exports after the gap of three years, obtaining Ministry of Commerce approval for exporting pellets through third party mechanism, realization of “Make in India” programme through tolling, sale of pellets through rupee payment mechanism, cost effective sourcing of raw materials from Domestic & International markets, introduction of pellets in CPSEs like SAIL & RINL, creating long term business association with M/s Glencore, M/s Vale for tolling arrangement.

His leadership has also brought a lot of laurels to the Company - the Company has been recognized with “Certificate of Appreciation for Outstanding Exporter for FY 2011-12" by Customs Commissionerate, Mangalore and bagged the "Substantial Growth in Exports" Award from Customs Commissionerate, Mangalore for achieving highest exports & best business performance for current year.

Watch the video of the wide ranging conversation between CMD, KIOCL and the CEO, Spearhead Media Pvt. Ltd. here