Nava Bharat Ventures expansion plans on schedule

Nava Bharat Ventures Ltd has announced that the Company's expansion projects, currently underway in power business in A.P. and Orissa and the new sugar facility are as per schedule. The Company would increase the power generating capacity from the existing 112 MW to 208 MW by June 2008. Aside from this coal based power generation, the Company would also have Non Conventional Fuel based power generation capacity to an extent of 29 MW by then. The Company envisages that the power segment would fuel the growth of the Company going forward with ferro alloy segment aiding inherent value addition, while integrated sugar operations would supplement the profitability.

Nava Bharat Ventures Ltd has announced that the Board of Directors of the Company at its meeting held on October 27, 2006, has approved, subject to necessary approvals, investment to the extent of 26% in the equity of M/s Navabharat Power Pvt Ltd, a joint venture entity, which is setting up a 2 x 300 MW coal fired thermal power project in Orissa.

Source : Equity Bulls

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