ICCL clocks record power generation in a quarter
Enables Group's furnaces to operate at full load
Jul 06, 2002
Internal Press Release

Indian Charge Chrome Ltd (ICCL) which is part of the Odisha based IMFA Group, India's largest producer of ferro alloys, today announced that its captive power plant has recorded the highest ever generation in a quarter during the period April-June 2002. The total generation achieved in this period was 207.30 mu corresponding to 88% PLF as opposed to the earlier record of 206.16 mu which was achieved in the period October-December 2001.

Commenting of the achievement Mr Subhrakant Panda, Joint Managing Director, said "With the relining of two furnaces operated by the Group having been completed in the last financial year and the market also showing signs of improvement, we are looking to maximise our ferro alloys production. In this context I am glad that the captive power plant has been able to achieve this record thereby enabling us to operate our furnaces at maximum load".

It may be recalled that ICCL has registered an operational turnaround after the IMFA Group was allotted captive chrome ore mines in Sukinda in late 1999. While awaiting the finalisation of a rehabilitation proposal it has been making regular monthly payments to Financial Institutions led by IDBI and Consortium of Banks led by Indian Overseas Bank (IOB) which from January 2000 till date totals Rs 44.71 crores.

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Mr Kishore Mohan Mohanty