Godawari Power and Ispat Ltd approves CAPEX plan

The Board of Directors of Godawari Power and Ispat Limited ("GPIL") has approved the CAPEX plan of the Company has under: In view of the raising demand for the high grade iron ore pellets being manufactured by the company in the domestic and global market. the Board of Directors decided to enhance the capacity for manufacturing high grade iron ore pellets from its existing 2.7 million tons to 5.40 millions tons per annum by setting up additional Pellet plant with a capacity of 2.7 million at existing plant location at Siltara Industrial Area, Raipur, subject to applicable regulatory approvals.

With the proposed increase in Pellet Plant capacity, there will be additional requirement of Iron ore and therefore the Board has approved enhancement of existing iron ore mining capacity at Ari Dongri mines from 2.35 Million tors to 6.00 Million tons per amilm with setting up of iron ore beneficiation plant with a capacity 6.00 Millions tons per annum.

The Company is intending to set up 1 million pig iron/hot metal through blast furnace in Raipur Region ln Chhattisgarh for which there will be additional requirement of 1.5 million Iron Ore Pellets. Further there is robust demand for high grade iron ore pellets which is further expected to be increased in the near future in the domestic and global market. To meet the increased demand for high grade iron pellets, the company is intending to increase capacity of Iron Ore Pellet plant by setting up 2.7 million ton Pellet plant. In order to feed the increased requirement of iron ore for Pellet plant iron ore mining capacity at Ari Dongri mines is proposed to be enhanced from 2.35 million tous to 6.00 milli on tons per annum. With proposed increase in iron ore mining capacity, there will be corresponding setup of capacity in the beneficiation of Iron ore as well.

Source : Equity Bulls

Keywords

GodawariPowerandIspat CAPEXPlan GPIL