Rawmet to set up ferro alloy plant in Cuttack
By Malika Jain
Rawmet Ferrous Industries Pvt. Ltd, Orissa, is planning to set up a ferro alloy plant along with a waste-based power plant and a coke oven battery at Anantapur village in Cuttack district. The facility will be implemented in four phases. The cost of the entire project is Rs 326.50 crore.
The company has tied up with major equipment supplier R G Con Services, Visakhapatnam, for the ferro alloy plant. Plans are also on avail for a tie up with a Chinese company for supplying equipment for the coke oven plant.
The financing will be 2:1 debt-equity ratio, mainly through commercial banks and financial institutions.
Completion of phase-I is scheduled for March 2006. As per the company reports, the construction work would commence shortly.
Contact: Rawmet Ferrous Industries Pvt. Ltd, N1/A-28, IRC Village, Nayapalli, Bhubaneswar, Orissa 751015. Tel: 0674-2557149; Fax: 0674-2552685
(28 Feb 2005)