Ennore Coke the only merchant coke producer in the east coast has successfully pushed coke into its batteries in its plant located in Haldia. With this push, which was ceremoniously held on the auspicious day of the Bengali New Year, Ennore Coke became the second listed company in the domain to produce metallurgical coke, a vital ingredient for the steel industry.
A jubilant Ganesan Natarajan, Wholetime Director & CEO of the company, the moving spirit behind the company said “this is a proud moment for us and I would like to take the opportunity of thanking every member of the Ennore Coke family who have toiled ceaselessly to achieve this milestone.”
The successful pushing of coke is the first stage of the process of coke making which will culminate with the company attaining its full capacity of producing 130,000 MTPA of coke within end May 2009. Ennore Coke will also co-generate 12 MW of power, which in turn will generate “carbon credits” and further add to the company’s bottom-line.
“We are a conscious corporate citizen, aware of our duties to the nature and have therefore not only implemented the most advanced green technologies, but will also strive to offset the carbon footprint by co generating electricity” said Mr. Natarajan.
Metallurgical Coke is commodity that India does not have in sufficient quantities and has to depend on imports. Coupled with a shooting demand from the local industries – steel in particular and also China is presently not exporting , the prices of the commodity have been on a global upswing with availability becoming a cause of grave concern. Being the only listed, stand alone merchant coke producer in Eastern India, Ennore coke is poised to quickly reach a position of preeminence and reap the full benefits of a massive demand – supply imbalance. “the market for coke is colossal” said Mr. Natarajan, “and we at Ennore Coke have some impressive plans which may be a bit premature to divulge in the present. Suffice to say, this is just the beginning and as a long term value based player, we will put all resources at command to build on our successes.”
The location in Haldia too is a huge advantage. With the steel making facilities quietly moving towards its natural habitat in Eastern India, demand for coke in the region too is expected to move up exponentially providing Ennore Coke the advantage of being where the action will be apart from according it the advantages of lower freight costs.
“West Bengal is in the resurgent mode. And we are happy to be a part of this economic upsurge” said Mr. Natarajan. “all the ingredients for the manufacture of steel are here in eastern India, except good quality coking coal and coke. We hope to bridge this gap by sourcing quality metallurgical coal from around the world and converting it to coke for the consumption of the local industry and while doing so, want to become the biggest and the best in the business.