Mangaluru City North MLA seeks merger of KIOCL Ltd. with NMDC Ltd.
Mangaluru City North MLA Y. Bharat Shetty has requested the merger of KIOCL Ltd. with NMDC Ltd. to address operational challenges faced by KIOCL. He highlighted the disruption of KIOCL's operations due to the lack of mining permissions from the Karnataka government, which has led to financial uncertainty for employees. Shetty also emphasized the need for more industries in the Mangaluru region to create sustainable job opportunities for local youth.
- ▪MLA Y. Bharat Shetty has written to Union Minister H.D. Kumaraswamy seeking the merger of KIOCL Ltd. with NMDC Ltd.
- ▪KIOCL Ltd. is facing operational distress due to the lack of final mining permission for the Devadari Iron Ore Project.
- ▪Shetty urged the Central government to pressure the State government for immediate mining approvals to secure KIOCL's future.
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MLA for Mangaluru City North Y. Bharat Shetty has written to Union Minister for Steel and Heavy Industries H.D. Kumaraswamy seeking the merger of KIOCL Ltd. with NMDC Ltd.In his May 25 letter to the Minister, Dr. Shetty said: “...KIOCL Ltd. has a glorious legacy but is currently facing severe operational distress. Merging KIOCL Ltd. with a stable, resource-rich central PSU like NMDC Ltd. will secure the company’s future, safeguard the livelihoods of its dedicated workforce and optimise national mining resources...”The MLA said that the operations of KIOCL have been completely disrupted because the Karnataka government has not granted the final mining permission for the Devadari Iron Ore Project.
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