The largest manufacturer company of the ferro alloys and ferro chrome in India, named the IMFA Group has recently informed that it has finalized some plans for making an investment of Rs 170 crore in its Orissa facility, very soon. The company officials have stated that the investment would be made for setting up a 30 MW power plant and a new 30 MVA furnace at the facility and the company would make the proposed investments from internal accruals and debt.
The sources from the company have informed that the IMFA is currently operating a number of five furnaces at its facilities in Choudwar and Therubali, that are also located in Orissa. The sources said that the combined capacity of the five furnaces is 157 MVA (mega volt amperes) and the company has already placed orders for a new 30 MVA furnace. The sources added that setting up this furnace is going to require an investment of Rs 60 crore. The Managing Director of the IMFA Group of Companies, Mr. Subhrakant Panda has added that the company is planning to start operating the new furnace by the fourth quarter of 2008-09.
Mr. Panda was also talking about the other plans of the company with the facility located in Choudwar, in Orissa and said that the company is already operating a 108 MW captive power plant in the plant. He added that the company is currently setting up a new power plant of 30 MW capacity at an investment of Rs 110 crore and it would run on coal and coal washery rejects and also the waste heat gas that would be recovered. He also said that the new power plant would also go on stream by the last quarter of 2008-09. He said that the new 30 MW power plant is being set up "to facilitate better furnace utilization and meet the requirements of the new furnace".
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| Posted : 4/12/2008 |
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