Monnet Ispat & Energy is planning for capital expenditure of around Rs 2,300 crore during the current fiscal for capacity expansion. The company is going to allocate this fund as, Rs 800 crore for expansion of steel capacity and Rs 1,500 crore in power plants.
The company’s implementation of 1,050-MW power plant at Angul has been progressing well and the plant is expected to be operational in second half of fiscal 2014. The company has already started for tying up debt for the 660 MW proposed plant to be set up in the same location.
