HEG Ltd is a leading graphite electrode manufacturer in India. The company engaged in manufacturing graphite electrodes and a captive power generation. The company has the largest integrated graphite plant in South Asia & Middle East, located at Mandideep in Madhya Pradesh.
The company produces two grades of graphite electrodes, High Power and Ultra High Power, which are manufactured according to the customers' needs and requirements. The company is a major exported of graphite electrode, with a number of respected steel manufactures, namely ArcelorMittal, POSCO, Thyssenkrupp, US Steel, Nucor and Usinor in their customer base.
HEG Ltd (earlier known as Hindustan Electro-Graphites Ltd) was incorporated in the year 1977. The company is a premier company of the LNJ Bhilwara group. They started as an importer of electrodes and latter turned to production of Graphite electrodes with financial and technical assistance from La Societe Des Electrodes Et Refractories Savoi, a subsidiary of Pechiney, France.
In the year 1992, the company and Rajasthan Spinning & Weaving Mills Ltd jointly promoted a 100% export oriented unit for cotton mills went into production. During the year 1995-96, the company completed the 9216 spindles and modernization of Rishabhdev unit with Autocover at a total cost of Rs 33 crore.
During the year 1996-97, the company expanded the graphite division to the total capacity of 24000 tons. They commissioned the 13.5 MW Tawa hydroelectric power plant, the first hydroelectric project by private sector in the state of Madhya Pradesh. Also, they commissioned the 12.8 MW co-generation power unit during the year.
During the year 1998-99, Rishabhdev unit successfully commissioned a 4.2 MW Wartsaila Generating set for captive consumption of the Textile Division. During the year 2000-01, the company exited from the telecom sector, which was a joint venture with Motorola as the same was not germane to the existing businesses.
During the year 2001-02, the company expanded the installed capacity of Graphite Electrodes to 30000 MT per annum at a cost of Rs 47 crore and they discontinues the operations at their textile unit in Jammu as the unit became unviable during the year 2002-03.
The company de-merged the textile business located at Rishabhdev in Rajasthan with effect from April 1, 2003, which was merged with the Rajasthan Spinning & Weaving Mills Ltd. They set up a new kiln with an additional capacity if 30000 MTPA for Sponge Iron during the year 2003-04.
During the year 2004-05, the company increased the production capacity of Graphite Electrodes at Mandideep from 30000 to 52000 MT per annum. Also they commissioned a new 25 MW Captive Power Plant at Mandideep. The company entered into a joint venture with Statkraft Norfund Invest AS (SN Power), Norway for setting up Hydro Power Generation projects in India. Also, they added another prestigious partner, International Finance Corporation, Washington, as Equity Holders in the AD Hydro Power Project.
During the year 2005-06, the company acquired Jaipur Polyspin Ltd to manufacture Synthetic dyed Blended Yarn. Also, they acquired an open-end plant with 1680 rotors from Phillipines. The company introduced ready-to-wear Apparels, manufactured at a newly set up unit in Bangalore. Also, they commissioned Hydro Electric Project in Malana.
In April 2007, the company made an investment of Rs 35 crore towards de-bottleneckingin the graphite electrode plant. In July 2007, the company sold their fully integrated steel business, which includes sponge iron, steel billets and a 13MW waste heat recovery power system power plant to Jai Balaji Industries Ltd of Kolkata.
The company is in the process of expanding their graphite electrode capacity for the current level of 60000 TPA to 80000 TPA by way of Brownfield expansion and de-bottlenecking of the existing capacities. Also, they are in the process of implementing the expansion plan adding 33 MW, at an investment of Rs 90 crore. This is likely to be commissioned by March 2009, taking the total capacity to approximately 77 MW.