Former MlA, HMS national vice-president and State unit president Rajendra Prasad Singh has urged Chief Minister Naveen Patnaik to negotiate with the Steel Authority of India limited (SAIl) to take over IDCOl Kalinga Iron Works limited at Matkambada of Keonjhar district. This plant has been shut down since February 12, 2014 because of loss. He told Patnaik in a letter that M/s MECON, Ranchi had submitted on March, 2009 a perspective plan report for modernization of the plant to 0.5 MT integrated steel plant at an investment of Rs 2,498 crore but Government has kept the proposal in cold store. Non-availability of iron ore is the main major problem for the unit. The management is making efforts to get 10-30 MM BF grade iron ore from different sources, but due to imposition of restriction on mining operation, it is not possible.
Besides, its iron ore mine Roida “C” under Barbil Tehsil is going to exhaust within a year. Singh said that under the circumstances, the industry needs expertise management and huge capital for modernization which can only be provided by the SAIl. Notably, the Kalinga Iron Works was taken over on April 1, 1963. IDCO Kalinga Iron Works limited was incorporated as separate wholly owned subsidiary company of the Industrial Development Corporation of Orissa ltd (IDCOl), on March 26, 1999 and started operating from the financial year 2002-2003.
