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Indian Metals and Ferro Alloys said it has commissioned the first unit of its two 60 MW captive power units at Choudwar, Odisha.
The total cost of the power plant is Rs 600 crore.
The company is an integrated producer of value-added ferro chrome with a capacity of 2.75 lakh tonnes per annum. It has captive mines in Sukinda, Nausahi and manufacturing facilities in Therabali and Choudwar.
Prem Khandelwal, Chief Financial Officer, said the company has an existing capacity of 138 MW and the current addition will hike it up to 198 MW.
He said the power from the plant was for IMFA’s production requirement. However, in the short term there would be surplus of 50 MW which would be fed to the grid. In the long run, plans were on to increase smelting capacity and utilise the entire generation.
Power fed to the grid at Choudwar would help stabilise system parameters in the area, including Bhubaneswar and Cuttack.
The plant’s boiler and pollution control equipment are obtained from Thermax, while the turbine and generator are from China.
In the late afternoon session the shares of the company were trading marginally higher at Rs 299.00.
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