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Ankit Metal & Power plans major capex in West Bengal

Thursday, 04 Apr 2013

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Ankit Metal & Power, an arm of SKP Group, which also owns companies like Rohit Ferro Tech (a leading producer of ferro chrome), Impex Ferro Tech (largest producer of manganese alloys) and SKP Overseas (owning Indonesia coal mines), is planning to set up a new steel, pellet & power plant at Jorehira in Bankura district of West Bengal.

Ankit Metal & Power is setting up the steel, pellet & power plant at Jorehira in with an investment of Rs 408.45 crore. The plant will have a 45 MW of captive power unit, 0.6 million tonne of pellet, 100 thousands tonne of wire rods, 30 tpd sponge iron, RM pre heater and AOD converter. The plant coming over 100 acre is located close to the coal belt in Ranigunj and having linkage with Coal India for supply of company’s coal requirement, thereby deriving cost savings in logistics and transportation. The facility is expected to be commissioned in 2013.

This is part of the company’s backward integration plans. Earlier the company had a capex plan of Rs 2,000 crore over the next two years, which included ramping up of its steel, alloy, pellets and power capacities through greenfield and brownfield expansions.

Also, the company is scouting for mines and alloy units (domestic or overseas), if available at right prices.

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