Financial Daily from THE HINDU group of publications
Tuesday, May 11, 2004
Financial Daily from THE HINDU group of publications Tuesday, May 11, 2004 |
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Corporate
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Announcements Paradeep Carbon to supply coke to Nalco Our Bureau
Mumbai , May 10 PARADEEP Carbon Ltd (PCL), a 100 per cent subsidiary of Goa Carbon Ltd (GCL), has won an annual order from the National Aluminium Company (Nalco) to supply 30,000 tonnes of Calcined Petroleum Coke (CPC), worth Rs 36.91 crore. Goa Carbon (GCL) is a part of the Dempo Group and is the second largest manufacturer of (CPC) in the country. The order will be executed from PCL's plant at Paradeep, Orissa and the finished material CPC will be supplied to Nalco's smelter located at Angul, also in Orissa. The order will occupy about 25 per cent capacity of the Paradeep plant and will be executed within a year. PCL has been a regular supplier to Nalco. In 2002, PCL supplied 15,000 and in 2003, the quantity was increased to 21,000 tonnes. It has now has won a tender for 30,000 tonnes. This annual increase in order inflow reflects Nalco's confidence in PCL's product quality. ``We are happy to receive such a large order from Nalco. We would like to attribute the increase in order quantity over previous year to our product quality and ability to meet delivery schedule. Our well-timed acquisitions are helping us meet the growing demand. It will also go a long way in improving our financial performance in the years to come,'' said Mr Shrinivas Dempo, Executive Chairman, GCL. The quality of Goa Carbon's product has been well accepted by end users both in India and overseas. Some of the domestic customers include Nalco, Hindalco, Indal, Malco and Balco. Apart from Aluminium Pechiney, France, with whom GCL has a long-term supply agreement, the company exports CPC to countries like Australia, Egypt, Dubai, Kuwait, Iran, Saudi Arabia, Singapore, Malaysia, Indonesia, Thailand, South Africa, Russia, Wales and England. A part of the Dempo Group, GCL supplies CPC to leading domestic as well as international aluminium smelters. GCL has a manufacturing capacity of 240,000 tonne per annum (TPA). While it started with a manufacturing facility in Goa (75,000 TPA), GCL further augmented its capacity in 2002 by acquiring Vishwalakshmi Petro Products Ltd, (VPPL) at Bilaspur in Chhatisgarh (40,000 TPA) and Paradeep Carbon Ltd (PCL) (125,000 TPA).
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