Companies

HEG to invest Rs 245 cr in Mandideep plant

PTI Bhopal | Updated on November 18, 2011 Published on November 18, 2011

In a bid to become the leading graphite electrodes manufacturer in the world, LNJ Bhilwara Group plans to invest Rs 245 crore in its Mandideep-based plant near Bhopal to raise production levels from 66,000 tonnes per annum (TPA) at present to 80,000 TPA.

“HEG Ltd, one of the largest manufacturers and exporters of graphites electrodes in South Asia, will make an investment of additional Rs 245 crore for scaling up its plant, which shall be completed by mid next year,” the Group Chairman, Mr Ravi Jhunjhunwala, told reporters here last evening on the eve of the Golden Jubilee of the group.

“By then (middle of next year) the company shall start producing 80,000 tonnes of graphite electrodes per annum making it world’s largest integrated manufacturing plant,” he said.

“The current capacity of the Mandideep plant is 66,000 tonnes per annum, which requires an investment of Rs 1,123 crore. The company recorded a turnover of approximately Rs 1,300 crore during the financial year 2010-11. With this installed capacity, we are the world’s largest single site producers of graphite electrodes,” Mr Jhunjhunwala said.

On the occasion, the Group’s founder Mr L.N. Jhunjhunwala recalled his association with Madhya Pradesh in the early 70s when he decided to set up HEG Ltd in Mandideep in 1972. The company, which is a part of the Rs 5,000 crore Bhilwara Group, today stands tall as a Rs 1,300 crore company.

The inaugural function of the Golden Jubilee will be held in the state capital today and will be inaugurated by Madhya Pradesh Chief Minister, Mr Shivraj Singh Chouhan.

Published on November 18, 2011
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