Nishith Trivedi / Mumbai/ Ahmedabad April 01, 2008
Mumbai-based Austral Coke and Projects Limited, a Gremach Infrastructure Equipments and Projects Limited (GIE&PL) group company, is planning to expand its low ash metallurgical coke (LAM coke) oven plant at Kutch in Gujarat. The company is planning to ramp up the plant capacity to over eight lakh tonne per year, from the current 175,000 tonne.
While refusing to divulge investment figures for the capacity expansion, company officials said Austral Coke was exploring various possibilities to fund the expansion, which is likely to be completed within the next one-and-a-half years.
The company already filed a red herring prospectus with the Securities and Exchange Board of India (Sebi) for its IPO and is expected to enter the capital market in the next six months.
“We have decided to enhance our production capacity at our Kutch plant to cater to the increasing demand. We are evaluating proposals and inquires received from local and foreign entities for funding the expansion and we are already in talks with few of them. We are yet to take a final decision on this,” said Vivek Agrawal, chief executive officer of Austral Coke and Projects.
Austral Coke expects a turnover of Rs 800 crore during the next financial year.
Austral Coke to expand Kutch facility
Nishith Trivedi / Mumbai/ Ahmedabad Apr 01, 2008, 21:45 IST
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