|
In
a unique initiative, Gujarat NRE Coke Ltd is planning to invest
Rs 100 crore in setting up two waste heat power plants of
15 mw capacity each by 2007 to power its manufacturing plants
at Bhachau in Kutch and Jamnagar.
“These
plants will be the first of their kind in India and will use
the heat generated by the coke manufacturing process—which
is other wise wasted—to generate power. The only such
waste heat power plant exists in Chicago,” Gujarat NRE
Coke vice-chairman and MD Arun Jagatramka told ToI.
These waste heat power plants will also enable Gujarat NRE
Coke, which makes low-ash metallurgical coke, to avail of
clean development mechanism (CDM) benefits, he explained.
While the company plans to kick off the process for setting
up the power plants by June 2006, they are slated for completion
15-18 months after commencement of the projects.
These waste heat captive power plants will augment the company’s
existing wind power generation capacity of 27.5 mw, of which
25 mw is in Kutch and 2.5 mw in Jamnagar.
To part finance the project, the company is also planning
a listing on the Luxembourg Stock Exchange to raise $60 million
through foreign currency convertible bonds, Jagatramka said.
The remaining fund would fuel further investment in existing
mines in Australia and capex for existing plants.
Gujarat NRE currently
produces 1 mt a year of low ash metallurgical coke spread
over three plants and has recently set up a 3 lakh tpa steel
plant in Kutch.
|
