Adhunik Metaliks

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The Adhunik Metaliks is a part of the Adhunik Group, a private Indian company with interests in steel, mining and power generation. Adhunik Metaliks is listed on the National Stock Exchange and Bombay Stock Exchange. Adhunik Metaliks is described as "the flagship of the Group" with alloy, special and construction steel manufacturing companies" in India.[1]

The company states that "it has set up an integrated steel plant of 0.45 million ton at Sundergarh, Orissa, with state-of-the-art technology ... It has been allotted a captive iron ore mine at Keonjhar and captive coal mines at Talcher and Angul in Orissa. Complete integration of facilities and ownership of captive resources will help the Company insulate itself from any fluctuation in prices of raw materials along with maintenance of healthy profitability even in the worst of times."[1]

Another Adhunik sunsidiary, Ganga Power & Natural Resources is proposing to build the Bhagalpur Power Project, a 2640MW coal-fired power station at Kahelgaon in the Bhagalpur district of Bihar. A mid-2011 news report stated that a coal allocation for the project had not been made.[2] The State Investment Promotion Board (SIPB) notes that approved the proposed power project on February 1, 2010 as a 1320MW project. The company's proposal was amended in January 2011 for the project to be expanded to be a 2640MW plant established in two phases. The SIPB also notes that another Adhunik Metaliks has proposed a 2.2 million tonnes per annum steel mill at Kahalgaon, which was approved by the board in February 2010.[3] It is unclear whether the proposed power station is intended as a captive power station for the steel mill. On the webpage for Adhunik Metaliks, no mention is made of the proposed steel mill.[4]

Contact

Lansdowne Towers
2/1A, Sarat Bose Road
Kolkata 700020, West Bengal, India
Phone: 033 30517100
Fax: 033 22890285
E-mail: info AT adhunikgroup.com
Web: http://www.adhunikgroup.com/companies/aprnl.html

Resources and articles

Related SourceWatch articles

References

  1. 1.0 1.1 Adhunik Group, "Adhunik Metaliks", Adhunik Group website, accessed December 2011.
  2. Arindam Sinha, "540MW Adhunik power Jharkhand units to start output by March'12", Financial Express, June 1, 2011.
  3. State Investment Promotion Board, "Proposals Approved by State Investment Promotion Board (SIPB)", State Investment Promotion Board website, December 2011, pages 10 & 25.
  4. Adhunik Metaliks, "Adhunik Metaliks Limited", Adhunik Group website, accessed December 2011.