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Our Bureau

Panaji, Dec.5

Goa Carbon Ltd (GCL), a Dempo Group company, which manufactures Calcined Petroleum Coke (CPC), will venture into power generation soon.

The board of directors of GCL took an `in-principle' decision to this effect at a meeting held on November 25. The GCL sources disclosed that the company has received the sanction of the Goa Bench of Bombay High Court for amalgamation of its wholly owned subsidiary Paradeep Carbons Ltd (PCL) with GCL.

PCL will be amalgamated with GCL effective from July 1, 2005, said company sources. Besides recommending a dividend of Rs 1.50 per equity share (i.e.@ 15 per cent) on equity shares of Rs 10 each, the meeting of the board of directors also approved installation of the necessary plant and equipments to generate power by waste heat recovery at the three GCL plants at Goa, Bilaspur and Paradeep.

Further, the board decided to expand the capacity of the company's CPC plant at Paradeep (Orissa), said Mr Shrinivas Dempo, Chairman, GCL.

Meanwhile, the GCL's board has appointed Mr S. Ramachandran, President, as Executive Director, with effect from December 1.

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