The Hindu Business Line : Facor golden jubilee today

Ferro-Alloys Corporation (Facor) at Garividi village in Vizianagaram district is celebrating its golden jubilee on Monday, according to a press release issued by the company.

Three Union ministers and two State ministers are scheduled to participate in the function on Monday evening. Mr Praful Patel, the Union Minister of State for Civil Aviation, Mr Vilas Muttemwar, the Union Minister of State for Non-conventional Energy Sources, and Mr T. Subbirami Reddy, the Union Minister of State for Mines, Mr K. Rosaiah, the State Minister for Finance, and Mr B. Satyanarayana, the Minister for Marketing have agreed to participate in it.

The press release issued by the company on the occasion says that the company is currently exporting ferro-alloys to 30 countries including the USA, Japan, Germany and Britain. The Garividi unit, with the installed capacity of 72500 mtpa, has facilities for production of ferro-alloys such as high-carbon ferro chrome, low-carbon ferro chrome, silico chrome, silico manganese and magnesium ferro silicon and ferro manganese. These alloys are supplied to steel units in India and exported abroad.

Turnaround

After the liberalisation of exim policies, the protective cover for the industry, a power-intensive one, was lost. However, during the past two years, it has regained its health and is making operating profits, the release added.

The company has its own mining leases in Orissa. It also operates chromite mines at Boula, Kathpal and Osthapal in Orissa.

It also has several projects on the anvil in Orissa and other States with a total investment of Rs 2,000 crore. The company has planned a 250-MW power plant and a half-a-million tonne stainless steel plant in Orissa.

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