Haldia Coke & Chemicals Private Limited (Haldia Coke), a producer of metallurgical coke, has raised Rs 125 crore from Gaja Capital Partners, an India-focused Private Equity fund.
Haldia Coke is promoted by Shriram EPC Ltd and other associates. The company plans to utilise the raised funds for expanding its mining, metallurgical coke and power production capacity. Haldia Coke has mining assets in Orissa, West Bengal, as well as in USA.
T Shivaraman, managing director, Shriram EPC Limited, said that the investment by Gaja Capital Partners will enable Haldia Coke to double its manufacturing capacity of metallurgical coke which is in short supply in India.
“We are optimistic about our prospects in the metallurgical coke business due to the growth in Indian infrastructure and the resultant strong growth in several industrial segments including the steel sector,” he added.