Rohit Ferro-Tech has informed that the Company’s Factory at Haldia, Purba Mednipur, is under suspension of work from July 01, 2015. The Suspension of work is mainly on account of the Substantial gap in Tariff of electricity by the West Bengal State Electricity Distribution Co. (WBSDCL) and Damodar Valley Corporation (DVC). For the Company’s Haldia Plant, the Company has to procure electricity from WBSEDCL, whose rates are 30% higher compared to DVC and as a result the Company is incurring huge losses.
The above information is a part of company’s filings submitted to BSE.
