Anik Ind announces setting up of an Integrated Ferro Alloy & Power Plant at Jhabua, MP

To invest more than Rs 500 crore

Anik Industries Limited, part of the USD 4.5 billion Ruchi Group, announced the setting up of an integrated Ferro Alloy and Power Plant in Jhabua, Madhya Pradesh. The Company will invest more than Rs.500 crore to set up the Plant with a capacity of 45 MVA of Ferro Alloy and 90 MW of power.

The Company has proposed an investment of Rs. 150 crore in the first phase, which would help produce 18 MVA of Ferro Alloy and 20 MW of power by the financial year ending 2010-11. The 33 acres of land has already been acquired through the Madhya Pradesh Audyogik Kendra Vikas Nigam Ltd., a specialised State Government Corporation promoted for the development of industrial areas, and infrastructure facilities.

Announcing the plans, Mr. Deepakk Goyal, Executive Director, Anik Industries Limited said, “The Plant is part of our diversification into the sphere of natural resources and power and will gain further momentum, once the State Government processes our applications and grants us the leases to the captive mines. We have been assured speedy allocation of the areas and expect the first lot to be allocated in current financial year."

Mr. Manish Shahra, Jt. Managing Director, Anik Industries Limited, explained “Jhabua is an economically backward area and we intend to create employment opportunities in the region. The decision to set up the Plant in Jhabua was guided by the availability of captive ore mines in the State and the specific request by Madhya Pradesh State Government to invest in backward areas.”

The Company has identified a thrust in the power sector, on the conventional and non-conventional platform and would look at both integrated units and independent power plants for its various power projects. Anik Industries has already zeroed in on a 225 MW gas based power plant at Ujjaini, a 300 MW coastal power plant with captive jetty in Tamil Nadu, and at the same time is currently evaluating the feasibility of setting up two solar photovoltaic power plants of 10MW each at Madhya Pradesh and Rajasthan.

“In addition, we are also looking at bio-mass power plants in Neemuch, Madhya Pradesh. We have also employed a team of experts, which is helping us to identify various locations in the state of MP, where we would like to set up small hydel power plants” said Goyal.

Anik Industries Limited
BSE: 519383  | NSE: ANIKINDS  | ISIN: INE087B01017
Anik Industries Limited is a highly diversified company, listed on the BSE and NSE with multiple business interests across the country.

Anik Industries Limited processes dairy products under the brand names – Anik and Sourabh. All its plants are ISO 9001:2000 and HACCP certified.

The Company also runs successful businesses across power generation, mining, commodities trading and real estate investments.

Issued by HANSA Public Relations on behalf of Anik Industries Limited