PTI reported that State run Rashtriya Ispat Nigam is all set to be at par with SAIL and TATA Steel on raw material security front as mining firms OMDC and BSLC would formally be made its subsidiaries in the 6th months.

Mr P K Rastogi steel secretary said that “Handing over management control of Orissa Mineral Development Corporation and BSLC to RINL will ensure raw material security to the steel plant which does not have iron ore mines since inception and thus bring it at par with TATA Steel an d SAIL.”

OMDC and BSLC are operational units of the Bird Group of Companies which was placed under the management control of RINL a fortnight back. The government notified the restructuring process and now it awaits certain clearances from the RINL board and the Company Law Board which are likely to be completed in the next 6th months.

OMDC has estimated iron ore reserves of 200 million tonnes. Bisra Stone Lime Company has limestone reserves of 367 million tonnes and dolomite of about 280 million tonnes.

(Sourced from PTI)