K K Bangur group company Graphite India is planning to invest Rs.214 crore for setting up a coal-based 50 MW thermal power plant as part of its plans to optimise costs.
The company, which has units in Durgapur, Bangalore, Nasik and Germany, is now operating at a 60 per cent capacity due to the economic downturn. Addressing a press conference here company Chairman K. K. Bangur said the required land of 20 acres for the power project, which is to be set up in Durgapur, was already with the company.
GIL’s products find use in auto, aerospace, chemical, pharmaceutical, metallurgical and machine tool industries. The company turned in good results for the third quarter. He said that the company continued to be export-led having a presence in 50 countries. However from a 70-30 ratio between exports and domestic sales, the company was now able to export only 50 per cent of its output.
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