Bhilwaras to invest Rs 245-cr in HEG plant
"HEG Limited, one of the largest manufacturers and exporters of graphites electrodes in South Asia will make an investment of additional Rs 245 crore for scaling up its plant which shall be completed by mid of next year," Group Chairman, Ravi Jhunjhunwala told reporters here on Thursday evening on the eve of the Golden Jubilee of the group.
"By then -mid of next year- the company shall start producing 80,000 MT of graphite electrodes per annum making it world`s largest integrated manufacturing plant. The current capacity of the Mandideep plant is 66,000 MT per annum which required an investment of Rs. 1123 crore. The company recorded turnover of approximately Rs 1300 crore during the financial year 2010-11. With this installed capacity we are the world`s largest single site producers of graphite electrodes," Jhunjhunwala said.
On the occasion, Group`s founder L N Jhunjhunwala recalled his association with Madhya Pradesh in the early 70s when he decided to set up HEG Ltd in Mandideep in 1972. The company that is part of the Rs 5000 crore Bhilwara Group today stands tall as a Rs 1300 crore company.
He also expressed his gratitude towards the people and the leaders, specially former Chief Ministers Arjun Singh, Sunderlal Patwa, Kailash Joshi and Digvijay Singh of the state for extending full cooperation to the group on the occasion.
The Golden Jubiliee`s inaugural function will be held today here in the state capital that will be inaugurated by Madhya Pradesh Chief Minister Shivraj Singh Chouhan.