Micky Metals Puts Billet Plant on Holds over High Power Cost
Press Trust of India reported that TMT bar manufacturer Micky Metals Ltd is holding back an expansion plan, a billet making facility, at its steel making
plant in West Bengal's in Birbhum district as high power tariff of the state-run electricity distribution company is making the project unviable. Micky Metals director Saket Agarwal told PTI "The average power cost in Birbhum is INR 8 per unit from WBSEDCL, while the electricity tariff in Durgapur under DVC command area is just about INR 4 a unit. So it is unviable to put an expansion project here, unless the government intervenes to resolve the issue. We have appraised the power department of the issue and the steel industry bodies have also urged the government to take necessary action. An additional 10 per cent input cost is just not feasible when margins are not more than four per cent.”
Micky Metals Ltd has a plant located at Suri in Birbhum district of West Bengal with an annual capacity of 100,000 tonnes. The company has licenses of IS 1786:2008 & IS 2062:2012 for manufacturing TMT Bars produced under Thermo Mechanical Treatment process and Structural Steel.