OCL Iron & Steel Limited (OISL) was incorporated on February 20, 2006, in Odisha under the Companies Act, 1956. The entity was established as coal based Direct Reduced Iron [DRI] production unit at Village Lamloi, PO-Garvana, Rajgangpur, District Sundergarh, Orissa. OISL further forayed into steel making by setting-up a steel melting shop (SMS) and billet casting facilities. Subsequently, the Company further expanded the plant by setting-up additional DRI Kilns, Coal Washery, Captive Power Plant and associated raw material handling systems, utility & electricals.

OISL also had a coal mine, located in the south-eastern part of Raniganj coalfield on the Southern Bank of the Damodar River, which can provide full coal security for the Integrated Steel & Power Plant. The Ardhagram coal mine with reserves of 20 Mn tons is an open cast coal mine (has been operational till Jan 2020) with mining lease valid till 2048. The company is pursuing for regularizing the pending compliances for the mine.

OISL was also allocated Iron ore mine at Joda, Barbil, Odisha with reserves of 7 Mn tons (awaiting Stage I clearance from MoEF).

Then main plant facility of OISL is located at Village Lamloi, PO: Garvana, Rajgangpur. The area of the land is approx. 83.40 acre. It is located on State Highway 10 and about 30 kms away from the steel city Rourkela (which has 10 million MTPA plant of SAIL). Advantages of developed industrial town including infrastructural facilities in the vicinity is a major advantage for the plant. Consequently technical, commercial skilled and unskilled workforce is available. The main raw material of Iron Ore & Coal are available within close proximity of 200-500 kms from the plant. The railway sliding is just 5 kms away from the plant, making transportation of raw materials and finished products easy and economical. Being located in the midst of steel industries, related raw material, reliable testing laboratories are easily accessible. The plant is located at a distance of ~35 kms from Airport and ~400 kms from port.

The new promoters intend to expand the unit, improve efficiency and carry out capex to manufacture value added end-products. The vision is to operationalize the coal mines and subsequently pursue the iron ore mines to secure the major raw materials from captive sources.