Steel Exchange India starts Simhadri power plant
Steel Exchange India Limited (SEIL) recently inaugurated a 60-MW thermal power plant with a capital investment of Rs315 crore. The project has been executed through as special purpose vehicle, Simhadri Power Limited, promoted by SEIL. Located at Vizianagaram, Andhra Pradesh, the plant will cater SEIL’s power need to a large extent.
“We are extremely pleased to launch the captive power plant. With this the company will have substantial savings in costs apart from assured supply of power,” said B Satish Kumar, managing director, SEIL.
Simhadri Power will supply 51 per cent of the power generated for captive consumption by the units of the company as per the arrangement entered by the company with SPL and the balance will be exported through merchant sale.