Even as Afghanistan is all set to use Chabahar to connect to India, ministry of steel is exploring options for KIOCL Ltd to leverage the Iranian port’s location to broad base economic activities that this mini-Ratna carries out. The economic engagement could be in the form of setting up a pellet plant or manufacturing rails for that country or even carry out mining operations, union minister of steel Chaudhary Birender Singh, said.
Interacting with reporters after dedicating KIOCL Ltd’s 1.3MW solar power plant and laying foundation stone for modernisation of its blast furnace unit on Wednesday, the minister said in context of KIOCL, it has lot of meaning and a great sense of involvement is required on part of this mini-ratna. “Steel secretary Binoy Kumar is keen to explore what kind of role that KIOCL Ltd can play in development of Chabahar Port,” the minister said.
Iran wanted to make full use of its relationship with India way back in the 1970s (through KIOCL), the minister said, adding that for some reasons this could not be continued. “Now this is a new effort on part of the Prime Minister Narendra Modi that steel industry should totally be involved in that and KIOCL being the nearest destination to Chabahar, we have asked them how to explore their involvement (in its development),” Singh said.
Noting that it is the main business of KIOCL Ltd to supply pellets, the minister said when they get connected with the activities at Chabahar Port, the ministry has asked the company to explore other activities as well. “Lot of activities can be thought about,” the minister said, adding this could include setting up a (steel or pellet) plant there. Iran is always in need for rail for their country and there are activities where steel is involved, he noted.
India being the second largest producer of steel in the world, and Iran being the destination transport wise, the minister said this can be very profitable for both countries and a win-win situation for the two nations. Binoy Kumar said KIOCL should look to explore its potential beyond its traditional pellet manufacturing role and minister has given the mini-ratna a road map that could transform it in to a maharatna by going beyond its stated objectives.
