BUSINESS PROFILE :
Monnet Ispat managed by the Monnet group was promoted jointly by Sandeep Jajodia and Jindal Strips in 1990. The main business of the company is sponge iron, char and M S ignots, power generation and ferro alloys. It also has a coal mining division.
The Monnet story started with the commissioning of 0.1 million tone per annum (TPA) sponge iron plant set up at one-fourth the cost of similar plants. With the addition of asecond rotary kiln, Monnet had ensured augmentation of a capacity to 0.23 million TPA. Additionally two rotary kilns were commissioned. Monnet currently produces 0.3 million TPA of sponge iron: over 0.3 million TPA of steel, ferro alloys, coal mining aided by captive power generation.
Monnet has signed an MOU with the Chhattisgarh State Industrial Development Corporation (CSIDC), an investment agency of the government of Chhattisgarh, for undertaking steel and allied projects in Raipur and Raigarh, upto a proposed investment of Rs. 11.6 billion. Monnet plans future expansion at Raigarh (Chattisgarh). This new sponge iron plant will have a capacity of 0.5 million TPA.
Monnet also plans to set up a 600 MW pithead coal-based power plant in Orissa. The company wants to set up two units of 300 mw each at a total investment of Rs 24 billion. The plant will source coal from the Utkal B2 captive coal block in the Talcher coalfields.
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