Orissa-based Indian Metals & Ferro Alloys Ltd (IMFA) has achieved financial closure for its 30mw dual-fuel plant at Chaudwar in Cuttack district.
IMFA chairman Bansidhar Panda said the financial closure has been achieved for a 30mw dual-fuel plant at Choudwar, which is expected to be operational in 18 months.
This would take the company’s total power generation capacity to 138mw. IMFA already has a captive 108mw coal-fired plant at Chaudwar.
IMFA reported a 27% increase in turnover at Rs 593.53 crore during 2006-07. This included export earnings of Rs 317.74 crore, up 48.52% over the previous fiscal.
“The improved operational performance coupled with higher product prices resulted in PBIDT increasing by 45.48% to Rs 140.53 crore”, said Panda.