The commissioning of production capacities at their manufacturing site in Jamuria, West Bengal, was announced by Shyam Metalics and Energy Limited (SMEL), a prominent integrated metal-producing firm with headquarters in Kolkata.
The captive power plant’s capacity will go from 267 MW to 357 MW, an increase of 90 MW. The captive plant provides the corporation with about 75% of the energy it needs. With the incremental expansion, 80% of the electricity will be sourced locally, resulting in significant cost savings.
The company has also boosted its Sponge Iron production, commissioning an incremental capacity of 1,65,000 TPA, leading to an enhanced total capacity of ~2.7 MTPA.
Brij Bhushan Agarwal, Vice Chairman & Managing Director said, “We continue to deliver on our ambitious expansion plans. I am happy to announce that with current addition we have successfully completed the capacity additions we had outlined in our IPO plans. The addition to our captive power plant gives us a significant boost with reliable and low cost power, and we are in an even better position to supply sponge iron which continues to see improving demand.”
