Godawari Power and Ispat Ltd receives environmental clearance for expansion project

The Ministry of Environment, Forest and Climate Change (Impact Assessment Division), Government of India, has accorded its environmental clearance vide its letter dated 01.12.2020 to Godawari Power and Ispat Limited for expansion and modernization of existing manufacturing facilities along with integration of existing environmental clearances at exiting plant location at Sitara Industrial Area, Raipur, as per the details given below:

Steel Billets - From existing capactiy of 4,00,000 MTA to 7,00,000 MTA per annum
H.B. Wire - From existing capacity of 1,00,000 MTA to 2,00,000 MTA per annum
Iron Ore Benefication Plant - 10,00,000 MTA to 32,84,000 MTA per annum
Iron Ore Pelletization Plant - 21,00,000 MTA to 24,00,000 MTA per annum

Based on the above approval of the Central Government, the company will apply to the State Government for according its 'Consent to Establishment' for Steel Billet, H.B. Wire and Iron Ore Beneficiation Plant and 'Consent to Operate' for the enhanced capacity in Iron Ore Pelletisation plant. The Iron ore Pellet capacity is already in place. However the production of enhanced capacity in Pellet plant shall start after receipt of Consent to Operate.

The increase in production capacity of Steel Billet, HB Wire and Iron ore Beneficiation plant will require some capex, which will be done after receipt of Consent to Establish. The capex will be incurred out of internal accruals.

Shares of GODAWARI POWER & ISPAT LTD. was last trading in BSE at Rs.441.75 as compared to the previous close of Rs. 425.45. The total number of shares traded during the day was 36389 in over 1414 trades.

The stock hit an intraday high of Rs. 445.95 and intraday low of 424.95. The net turnover during the day was Rs. 15824969.

Source : Equity Bulls

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