Kamineni Steel_ProjectsMonitor

Kamineni Steel and Power India Pvt Ltd (KSPIPL) which was intending to set up natural gas -based captive power plant to cater to electricity requirements of the entire group has modified its project plans due to the shortage of natural gas. KSPIPL will now set up 120 MW power plant in the first phase instead of 220 MW plant as was earlier envisaged. Further, the proposed power plant will have combined cycle engines and will use R-LNG instead of natural gas. KSPIPL has already entered into an agreement with GAIL India Ltd in 2012 for supply of RLNG. The company has already acquired 143 acres of land out of which 50 acres have been used for billet plant and the balance land will be used for power project.

KSPIPL recently set up 360,000 MT round billet manufacturing plant at Narketpally, Nalgonda district, Andhra Pradesh at an estimated cost of Rs 657 crore. The plant is part of the backward integration plan of the group and will supply billets to group company, United Seamless Tubular Private Limited and also to USAI Forge. Oil Country Tubular Limited is the listed entity of the group.

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