IMFA to commence operation of plant in October 2012

Indian Metals and Ferro Alloys (IMFA) is planning to commission the coal based power plant in Odisha by October 2012.

The 120 MW power project is coming up with an investment of Rs 480 crore. The surplus power generated from the facility will be synchronized with the state grid and a power purchase agreement (PPA) too will be signed. Meanwhile, the state energy department has completed all procedural formalities for granting the proposal IMFA to change the status of its independent power unit to captive power plant and will issue an order in this regard soon.

NALCO gets nod for new smelter facility

NALCO has received the approval from Odisha’s High Level Clearance Authority for setting up a smelter unit in the state.

The company will set up a 0.5 million tpa aluminium smelter and 1,260 MW captive power plant at Kepse in Sundergarh district. The facility will come up with an investment of Rs 16,345.89 crore over 2,500 acre. The smelter project needs 50 cusecs of water which will be drawn from the Hirakud reservoir. The company is in process of applying for a coal block to Coal ministry for the smelter project.

Hindalco achieves financial closure for Odisha project

Hindalco Industries has tied up funds for its Aditya Aluminium smelter project at Lapanga in Odisha.

The company has tied up Rs 9,896 crore debt through a consortium of 28 banks and financial institutions. The 13,195-crore project is being funded in a debt-equity ratio of 75:25. The company will set up a 3.59 lakh tpa aluminium smelter along with a 900-MW captive power plant at Lapanga. The equity part for the project has already been financed by internal accruals and QIP (qualified institutional placement) issuance of $600 million (approx Rs 3,300 crore) made in November 2009.

Also, the company is setting up an alumina refinery with integrated bauxite mines at Koraput in Orissa, which is expected to be completed by 2014.

Paradip Port Trust ropes in developer for iron ore berth project

The Paradip Port Trust has appointed Kolkata based Blue Water to develop a deep draught iron ore berth at the port.

The project envisages development of a deep draught iron ore berth on BOT basis with handling facilities for 10 million tonne of iron ore. It has received MoEF clearance. On completion, the said berth would accommodate cape size vessels with matching loading facilities.

It is a part of the Rs 591.35-crore project that includes a iron ore berth and coal berth with the length of about 380 mtrs, for handling ships of 1,25,000 DWT in the initial stage and 1,85,000 DWT in the final stage. The deep draught berth project has been aimed at deepening the berth draft to 17 mtrs from the present 12.5 mtrs and the channel depth to 19 mtrs from the existing 14 mtrs. The project concession period is of 30 years. Work on the coal berth is expected to commence by June 2013.