Bhilwara Group to invest Rs 245 cr in Mandideep HEG plant

BHOPAL: In a bid to become the leading graphite electrodes manufacturer in the world, LNJ Bhilwara Group plans to invest Rs 245 crore in its Mandideep-based plant near Bhopal to raise production levels from 66,000 metric tonnes per annum (MTPA) at present to 80,000 MTPA. "HEG Limited, one of the largest manufacturers and exporters of graphites electrodes in South Asia, will make an investment of additional Rs 245 crore for scaling up its plant, which shall be completed by mid of next year," Group Chairman Ravi Jhunjhunwala told reporters here last evening on the eve of the Golden Jubilee of the group. "By then (mid of next year) the company shall start producing 80,000 MT of graphite electrodes per annum making it world's largest integrated manufacturing plant," he said. "The current capacity of the Mandideep plant is 66,000 MT per annum, which required an investment of Rs 1,123 crore. The company recorded a turnover of approximately Rs 1,300 crore during the financial year 2010-11. With this installed capacity, we are the world's largest single site producers of graphite electrodes," Jhunjhunwala said. On the occasion, the Group's founder L N Jhunjhunwala recalled his association with Madhya Pradesh in the early 70s when he decided to set up HEG Ltd in Mandideep in 1972. The company, which is a part of the Rs 5,000 crore Bhilwara Group, today stands tall as a Rs 1,300 crore company. He also expressed his gratitude toward the people and leaders, specially former Chief Ministers of the state Arjun Singh, Sunderlal Patwa, Kailash Joshi and Digvijay Singh for extending full cooperation to the group on the occasion. The inaugural function of the Golden Jubilee will be held in the state capital today and will be inaugurated by Madhya Pradesh Chief Minister Shivraj Singh Chouhan.