IMFA plans Rs 6,600 Cr power plant in Orissa…

Spark discovered from various sources that, Indian Metals & Ferro Alloys Ltd (IMFA) is thinking on to set up a 1,320 Mw power plant in Orissa with a planned investment of Rs 6,600 crore over the next five years.

IMFA, India’s largest produce of ferro alloys, currently produces power for its own captive use as a part of its backward integration strategy. With the establishment of the proposed plant it will become a commercial power generator.

A seperate SPV will be floated called Utkal Power Ltd to carry out project execution. The Project will consists two units of 660 MW each.

IMFA produced 180,000 tonnes of ferro chrome in 2010-11 from five of its six arc furnaces at Cuttack and Choudwar in Orissa. It operates 108 Mw captive power generation capacity, as electricity accounts for 40 per cent of the cost of production. It would expand its captive power capacity to 258 Mw by March 2012.