September 08, 2008

Indian Metals & Ferro Alloys lays stone for power plant

SNS reported that Mr Surya Narayan Patro energy minister of Orissa has laid the foundation stone of the 30 MW expansion of captive power projects of Indian Metals & Ferro Alloys Limited at Choudwar in Orissa.

Mr Subhrakant Panda MD of Indian Metals & Ferro Alloys Limited said that it has committed investments of about INR 750 crore over the next 2 years to expand ferroalloys capacity, build independent power plants and backward integrate into coal mining, which would give the company a further competitive edge.

He added that it was awaiting clearance from the state government to embark upon a mega diversification into alumina aluminum, which would entail an outlay of more than INR 8000 crore.