Mideast Integrated Steel Ltd. (MISL) was incorporated in 1992 with assets in coastal Odisha in eastern India. It secured the Roida iron ore mining lease in the prime iron ore belt of Odisha in1996. MISLís Pig iron plant at Jajpur was successfully commissioned in 2005 and has since been operating uninterrupted. MISL has a strategic alliance with Stemcor, UK, for marketing and financing.
It is also the first company in India to have technical collaboration with CMIEC now known as Sino Steel, China. Currently MISLís negligible debt to equity ratio makes it essentially debt free Ė only company of this size in Iron and Steel business in the country.
MISL currently operates two 389 cubic meters Blast Furnaces in its plant at Kalinga Nagar, Odisha and the hot metal is cast as Pig Iron. Its Roida mines produce high quality iron ore. MISLís main products are Iron Ore fines, Calibrated Lump Ore and Pig Iron. MISL has now embarked on a major expansion at its plant. The expansion is consistent with the companyís philosophy of becoming one of Indiaís major fully integrated steel companies.
The current expansion plan is to take the finished steel capacity to 3.5 million tonnes in 2 phases. The finished products will be wire rods and rebars.