core sector communique

Balaji Group unveils expansion plans, to go in for generation of green power

 

Kolkata June 19th 2010. The Kolkata based Balaji Coke Industry, one of the oldest metallurgical coke producers in the country has chalked out impressive growth plans. The company is adding to its capacities and is setting up Captive Power Plants to co generate electricity facilities at Visakhapatnam and Gandhidham.

 

Mr. Naresh Sharma, Managing Director of the company said, “metallurgical coke is a commodity which is in short supply globally and in India as well. If we are to attain the growth rate of steel production in the country, we are left with no option but to augment the coke production substantially which is prompting us to increase our capacities. As key players in the industry segment, we are inundated with orders from our clients and to cater to their growing demand we have to increase our capacities manifold. The current expansion program is only a step forward towards that direction.”

 

“The coke making process involves generation of a huge amount of hot gases which is wasted currently and we, as conscious corporate citizens, want to utilize this heat for the co generation of power. The power so generated will not only make our operation more streamlined but will also generate additional revenues to make the process more cost effective.”

 

In the current phase, the company will be setting up an additional capacity of 500000 MTPA together with power generation of 40 MWPA at a net outlay of Rs 750 crores. The expansion will be completed by the year 2012 and will take the company’s total production capacity to 800000 MTPA.

 

Known for its wild fluctuations, the metallurgical coke industry is currently going through a phase of consolidation and at the end a few large conglomerates will emerge – integrated from mine to the market – having absorbed the scattered capacities around the country. “At Balaji Coke, we are certainly one of the key players and would continue to grow at a pace that the market demands so that we can retain our status within the domain” said Mr. Sharma, who is also the President of Indian Coke Producers Association.

 

“The nation needs coke. Coke that will keep the iron blast furnaces burning and in the process will end up producing more and more steel. At Balaji Coke, we see ourselves duty bound to ensure a steady supply of coke to the steel industry so that the nation’s economic progress is maintained. That is the reason why we are not only increasing our capacities but in the process converting ourselves into a professionally managed entity that is in sync with the times and is capable of embracing change for the greater interest of the stakeholders.”