Steel Exchange India Ltd is planning to set up a 60 MW captive power generation unit in its existing steel plant in Malliveedu in L Kota Mandal in Vizianagarm. The total project cost is estimated at Rs… 3150 million. It may be noted, the company had taken over the plant from Gold Star Alloy India Ltd a sick unit. The power plant will go operational by October 2012. It will use waste gases generated from steel melting for 16 MW of power and the rest will use coal.
It has floated a SPV Simhadri Power to implement the project and will go operational in October 2012. The parent company Steel Exchange India has invested Rs. 160 million so far in the project.