Kolkata, May 13 (Inditop.com) Graphite electrodes manufacturer Graphite India Ltd (GIL) will expand the capacity of its Durgapur plant in West Bengal to 20,000 tonnes per annum within the third quarter (October-December) of 2011-12, a top company official said Thursday.
“Earlier we have planned to expand it by 10,500 tonnes per annum but now keeping in view the rise in demand from the steel industry one-and-a-half years down the line we are taking it to 20,000 tonnes per annum,” K.K. Bangur, company chairman, told reporters at a press conference here.
The initial investment for 10,500 tonnes per annum expansion was Rs.180 crore. An additional Rs.67.50 crore will be invested for another 9,500 tonnes per annum.
Asked about funding of the project, he said: “We plan to do it through internal accruals and, if required, we may borrow some amount also.”
The company has earlier decided to set up a coal-based power plant of 50 MW capacity at Durgapur at an investment of Rs.214 crore.
The net profit of the company during January-March period of 2009-10 was Rs.55 crore.
GIL has a combined capacity of around 78,000 tonnes per annum spread over four plants at Durgapur, Bangalore, Nashik and Rothenbach in Germany.
