IMFA commissions first unit of captive power plant in Odisha
With the commissioning of this 60 mw unit, the company's total captive power generation capacity now stands at 198 mw.
"The commissioning of the first unit of 60 mw is a significant development, which portends growth for the company. Combined with the imminent start of the captive coal block, the foundation is in place for a boost to the topline and bottomline," IMFA's Managing Director Subhrakant Panda said.
Set up at a cost of over Rs 600 crore, the 120 mw captive power plant will primarily cater to the company's captive requirement of electricity for its ferro-chrome production, a company release said.
The company expects the second 60 mw unit to be commissioned in February this year, which would take total captive power production to 258 mw.
"So far, power has been used for captive purposes. However, in the short term, there will be a surplus of about 50 mw, which could be supplied to the grid, although plans are already underway to increase smelting capacity to absorb the entire power generation," Panda said.