Indian Metals & Ferro Alloys commissions captive power plant

Indian Metals & Ferro Alloys has commissioned a 30 MW dual-fuel captive power plant on August 23, 2011 and has been synchronized with the Grid. The unit is running smoothly and load will gradually be increased. As such, the company expects stable operations at optimal load within a month.

Recently, the company had acquired a 70% stake in an Indonesian coal mine for $8.75 million through its step-down subsidiary incorporated in Singapore. It was not possible to quantify the total reserves at the moment as a detailed assessment is yet to be carried out along with a study of the infrastructure development required to sustain operations and the estimated investment in this regard.

Indian Metals & Ferro Alloys is primarily involved in the production of ferro alloys including charge-chrome (high-carbon ferro-chrome), and has an installed furnace capacity of 157 MVA in its two units in Therubali and Choudwar2 districts of Orissa. The company’s operations are supported by a 108 MW captive thermal power plant (at Choudwar) and captive chromite mines.