ICCL repays SREI
Nov 26, 2003
Internal Press Release

Indian Charge Chrome Ltd (ICCL), part of the IMFA Group which is the country's largest producer of ferro alloys, today announced that it has completed the repayment of the additional boiler at its 108 MW Captive Power Plant in Choudwar which had been lease financed by SREI International Finance Ltd, India's leading infrastructure project finance company.

At a function held yesterday Mr Subhrakant Panda, Joint Managing Director, handed over a cheque for Rs 39 lakhs to Mr Sunil Kanoria, Director of SREI International Finance Ltd. This was the final lease rent instalment towards repayment of the boiler which was commissioned in 1998 at a total cost of Rs 48.29 crores.

Commenting on the occasion Mr Panda said : "The funding provided by SREI helped us tide over the steam capacity shortfall and, as a result, today the Captive Power Plant is operating in excess of 90% plant load factor (PLF). We have had an excellent association with SREI and are exploring further avenues to continue and indeed expand the relationship."

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