OMC pays dividend of Rs 1,420 crore to Odisha govt

OMC has supported the state government in many of its flagship welfare programmes.
For representational purposes
For representational purposes

BHUBANESWAR: Odisha Mining Corporation (OMC) on Wednesday paid a dividend of Rs 1,420 crore to the state government for the 2022-23 financial year. 

Steel, Mines and Works Minister Prafulla Kumar Mallik handed over the cheque to Chief Minister Naveen Patnaik. One of the largest iron ore producers in the country, OMC had recorded a turnover of Rs 14,450 crore in 2022-23. 

Having 18 operational mines, the state-owned corporation produced 33.76 million tonne ore in the last fiscal, registering around 15 per cent growth over the previous financial year. The production included 29.68 million tonne of iron ore, three million tonne of bauxite and 1.08 million tonne of chrome ore.

OMC has supported the state government in many of its flagship welfare programmes. The corporation had recently entered into an agreement to sponsor Indian national hockey teams - both men and women for a period from 2023 to 2033.

It has also been contributing substantially towards the socio-economic development of people of the state especially those who are residing in its mining periphery through various CSR initiatives.

The additional chief secretary of the Steel and Mines department-cum-chairman of OMC Deoranjan Kumar Singh, 5T secretary VK Pandian and OMC managing director Balwant Singh were among those present.

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