Loss-making Bisra Stone Lime Company on growth path

ROURKELA: Loss-making PSU mining company Bisra Stone Lime Company Ltd (BSLC) at Birmitrapur in Sundargarh district has sprung up surprising growth figures over the last three months.  

BSLC business head DP Das informed that in August, the subsidiary of Rashtriya Ispat Nigam Ltd (RINL) dispatched 22 railway rakes of dolomite which further increased to 26 and 31 rakes in September and October respectively. Previously, the average dispatch used to be 12 rakes, but during the Covid-19 lockdown, it reached an all-time low of 6-7 rakes. 

Das said the remarkable performance was possible with regular follow-up and monitoring of the Steel Ministry and top RINL management besides the support at the local level. Currently, the BSLC is capable of dispatching 40 rakes and if the company gets orders, then it would start producing limestone.

Those in the know of facts said the company had been going through turbulent times with mounting losses since 2010. With mounting losses, BSLC closure looked imminent till recently. With intervention of Steel Minister Dharmendra Pradhan since July 2019, corrective measures are eventually paying dividend.   

BJP MLA of Birmitrapur Shankar Oram said since its existence, BSLC has never dispatched 31 rakes in a month. The mining company is also now producing blast furnace (BF) grade dolomite and plans to excavate steel melting shop grade dolomite. Plans are afoot to enhance its monthly dispatch to 50 rakes against the break even point of 22 rakes, he added.          

Now, only Rourkela and Bokaro steel plants besides RINL are the buyers of BSLC. If the Steel Ministry asks other integrated steel plants to be buyers, BSLC would bounce back quicker than expected.

As of now, BSLC has total liabilities of about Rs 190 crore and around 650 workers have not received salaries for 22 months. 

The BSLC mines spread over 793 hectare are estimated to have reserve of 260.355 million tone of Dolomite and 165.674 million tonne of limestone. The company has approval to mine 5.26 million tonne per annum.