Incorporated on 31 Aug.'90, Indsil Electrosmelts (IEL) was promoted by S N Vardarajan, who has interests in two other companies -- Coimbatore Steels and Sun Metals and Alloys. Indsil came out with a public issue aggregating Rs 2.85 cr in Jul.'93 to set up a Rs 12-cr unit to manufacture 7800 tpa of ferro silicon, its major product. In addition to ferro silicon, Indsil also manufactures aluminium ferro silicon. It has signed MOUs with state electricity boards for establishing 71-MW hydel power projects for captive consumption to ensure full power supply. The Kerala government has exempted the Indsil unit from power cuts and electricity duty for 5 years from the date of commercial production. The expansion of capacity by the addition of a 10/15 MVA furnace was completed by Mar.'97. During 1996-97, the civil work of the 21 MW power project at Kuthugal were started and was completed by June'99. World Bank thorugh Indian Renewable Energy Development Agency Limited (IREDA) has sanctioned Rs. 3500 lakhs as term loan towards part funding of this project. During 1998-99, the company was awarded "KSIDC'S AWARDS FOR EXCELLENCE-99" in recognition for its outstanding performance in terms of employment generation, good labour relations, contribution to economy and profitability. The first phase of the company's project Hydro Electric Power Plant at Kuthungal, Kerala involving one generator having a capacity of 7 MW was commissioned in May'2000. The company had successfully commissioned the 21 MW Kuthungal Hydro Electro Power Project during the year 2000-2001 which is the largest private hydel scheme in Kerala.This project had been completed within a period of 28 months.Hydro Electric Power Project was commissioned in May 2000 and the full commercial operation was in August,2000.