Financial Daily from THE HINDU group of publications
Thursday, Jul 01, 2004
Financial Daily from THE HINDU group of publications Thursday, Jul 01, 2004 |
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Corporate
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New Projects Indal hydel plant proposal gets clearances Our Bureau
Kolkata , June 30 INDIAN Aluminium Company Ltd (Indal) is reported to have completed all formalities to set up mini hydel power plants in Maharashtra. The proposed plants, with a combined generation capacity of about 4 MW, are meant for captive consumption at the company's sheet and foil plants at Taloja and Kalwa (in Maharashtra) respectively. Suvas Holdings Pvt Ltd (SHPL), a subsidiary of Indal with 51 per cent of the total equity, will manage the hydel plants. The balance equity is controlled by Laxmi Organics Industries Ltd (LOIL). Steps are now being taken to make SHPL a public limited company. Although Indal will hold 51 per cent equity in SHPL, the day-to-day management will be vested with LOIL. Suvas Holdings has finalised the consultant to prepare the feasibility report for the plants, thereby, enabling it to submit a bid to the Maharashtra Government for approval. Meanwhile, Indal has taken up an ambitious programme to raise its Hirakud smelter's capacity to 100,000 tonnes per annum from 65,000 tonnes by shifting the remaining pots from the de-energised Belgaum smelter. In compliance with the increased demand of power, the capacity of its captive thermal power plant, adjacent to the smelter is also being enhanced by another unit of 100 MW.
More Stories on : New Projects | Power | Aluminium
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