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Indian steel as well as iron ore pellet manufacturer GIPL enhances risk in ferroalloy plant-Pumao steel

2022-03-23 | Pumao

Indian steel, iron ore pellet and power manufacturer Godavari Ispat and Power Limited (GIPL) has actually become part of a contract to increase its equity holding in Hira Ferro Alloys Limited (HFEL), a regulatory filing of GIPL claimed on Tuesday, March 22.

Under the arrangement, GIPL will certainly obtain extra equity in HFEL as well as increase its overall stake in the latter from 56.45 percent to 75.66 percent, according to the declaring.

The HFEL plant located in the main state of Chhattisgarh has an installed annual capability of 61,500 mt of ferroalloys, a 300 MW slave power plant, and also annual capacities of 300,000 mt of manganese ore briquettes and 330,000 mt of fly ash bricks.

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