Sky Alloys and Power Private Limited (SAPPL) plans to commission its expansion project in phases by October 2014. SAPPL is in the process of setting up a 2×6 MVA ferro alloy furnaces (with an annual capacity of 19,000 MTPA of silico manganese & 25,000 MTPA of ferro manganese) at a cost of Rs. 30.0 crore to optimally utilize its captive power plant. The project is proposed to be financed at a debt-equity of 2:1.
SAPPL presently has 60,000 MTPA sponge iron, 48,000 MTPA ingot and 16 MW captive power plant [of which 4 MW is based on Waste Heat Recovery Boiler (WHRB)] which were set up in 2009 at an estimated cost of Rs. 156 crore.