Sarda Energy & Minerals Ltd

The name of the Company has also been changed from Raipur Alloys & Steel Limited to Sarda Energy & Minerals Limited with a view to truly reflect the vision and mission of the Company. The focus of the Company is on harnessing of natural resources, particularly minerals and energy to produce value added products. The Company is creating core competencies in this field.

EXPORTS
The merged company enjoys status of Star Export house and is a leading exporter of ferro alloys in the country. During the year under review the company exported 18656 MTs of ferro alloys valued at Rs.59.47 crores as against 6466 MTs of Rs. 17.25 crores. The Companys product has been well accepted across the globe because of quality. Majority of the Companys exports are to the developed countries. To take advantage of goodwill created, during the year Company also started merchant export with a quantity of 4000 MTs.

PROJECTS

As informed in the last Report, the Company has taken up installation of two more induction furnaces of 15 Tonnes each and will be ready by 3rd quarter of the current financial year as per schedule.
The Company has also taken up expansion projects of Rs.450 crores which included Sponge Iron Plant, Iron Ore Pelletisation Plant, Thermal Power Plant, Coal Mining, Coal Washery and Infrastructure facilities. The financial closure for the projects has already been achieved and work on the projects has already been started The Sponge Iron Project is in advance stage of installation and is expected to be commissioned by the end of current financial year. The Pellet Plant is being put up in technical collaboration with SDM, China. The project is expected to be commissioned in the next financial year. The coal mines are expected to become operational during the current financial year.


INVESTMENTS

The Company has identified Hydro Power as a potential area of growth. The Company has made investments in companies whom Hydel Projects have been allotted in Uttaranchal, Sikkim and Chhattisgarh. The hydro power project of Uttaranchal will be operational during current year. During the year, the company has also promoted a joint venture company M/s. Madanpur South Coal Company Limited, an SPV, for mining of coal block allotted in consortium, where the Company has got a share of 36 million tonnes.

MINES

During the year under review the Company produced 1,52,713 MTs of iron ore as against 1,69,820 MTs produced during the previous year. The Company is taking steps to increase the production of iron ore from captive iron ore mines. The fines generated in the mines will be utilized after commissioning of Companys Pelletisation Plant.
All approvals required to start operation in the coal mine of the Company have been received. The Company plans to start development of the mine after rainy season in the 3rd quarter of the current financial year. The Company expects to start getting coal during the current year.
The Company has also received Prospecting Licence and Resonance Permits for iron ore and manganese ore mines at different locations to meet future requirements of the Company. The exploration work is going on.

The Company has acquired manganese ore and iron ore mines in Goa also. Steps have been taken for acquisition of more mines to ensure long term sustainable & uninterrupted availability of raw materials.

news

Raipur Alloys & Steel Ltd has informed that the Order of the Hon'ble Court of Bombay - Nagpur Bench confirming the merger of Chhattisgarh Electricity Company Ltd and Raipur Gases Pvt Ltd with the Company has been filed with the Registrar of Companies (ROC), Mumbai on July 01, 2007.

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