Shyam Metalics and Energy (SMEL), a metal producing firm headquartered in Kolkata, has commissioned production capacities at their Jamuria, West Bengal, manufacturing site.
The capacity of the captive power plant will increase by 90 MW, from 267 MW to 357 MW. The company sources ~75% of its power requirement from the captive plant. The incremental addition will lead to 80% of power sourcing internally, which leads to significant cost savings. The company has also boosted its sponge iron production, commissioning an incremental capacity of 1,65,000 TPA, leading to an enhanced total capacity of ~2.7 MTPA.
Brij Bhushan Agarwal, VC & MD, said, “We continue to deliver on our ambitious growth plans. With this addition, we have fulfilled the capacity additions specified in our IPO preparations.”
