Padmavati Ferrous is setting up a
sponge iron unit with a capacity of 400 tpd (4x100 tpd) at Chikkantapura in
Bellary, Karnataka. Environmental public hearing for the project is expected to
be held during this month.
The project will be implemented in two
phases with an investment of Rs.120 crore. It will also include 12 MW waste
based power unit and 37,100 tpa of ferro alloys unit. The company officials
informed ProjectsToday that around 70 per cent of the project cost would be
funded through bank loans and remaining 30 per cent through equity. Work on the
project was underway and scheduled for completion by May 2009.
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