Steel Exchange India inaugurated its Simhadri Power Plant

Steel Exchange India Ltd., one of the country’s high-quality steel manufacturers, inaugurated a 60 MW thermal power plant with a capital investment of Rs. 315 crore under Simhadri Power Ltd., a special purpose vehicle (SPV) promoted by the company at Sreerampuram Village in Vizianagaram District of Andhra Pradesh. The plant will cater SEIL’s power need to a large extent.
The inauguration ceremony was attended by several high profile dignitaries, including Dr D. Purandeswari, Minister of State for Commerce and Industry; Botcha Satyanarayana, Minister for Transportation, A.P & PCC Chief; and Pratik Prakashbapu Patil, Minister of State for Coal, Govt. of India inaugurated the Coal Handling Plant. 
Simhadri Power Ltd. will supply 51 per cent of the power generated for captive consumption by the units of the company as per the arrangement entered by the company with SPL and the balance will be exported through merchant sale.
Commenting on the occasion, B. Satish Kumar, Managing Director, Steel Exchange India Ltd. said, “We are extremely pleased to launch the captive power plant. With this the company will have substantial savings in costs apart from assured supply of power.”

26