Haldia Coke raises Private Equity of Rs.125 crore

(I-Newswire) July 26, 2010 - Haldia Coke is promoted by Shriram EPC Ltd and other associates. Haldia Coke is an integrated merchant met coke producer with met coke plants and captive coking coal mines. Haldia Coke owns an 80,000 metric ton per annum capacity met coke plant at Nergundi in Orissa through its wholly owned subsidiary Wellman Coke Ltd. In addition, Haldia Coke holds a 60.86% stake in Ennore Coke Limited which owns a 130,000 metric ton per annum capacity met coke plant and a by-product power plant at Haldia in West Bengal.

Haldia Coke also holds two coking coal mines in West Virginia and Arkansas, USA with combined production capacity of 423,000 ton per annum and extractable reserves of 25 million MT.

Haldia Coke will utilize the raised funds for expanding its mining, metallurgical coke and power production capacity.

Commenting on the capital raise, Mr. T Shivaraman, Managing Director of Shriram EPC Limited said:

“We are optimistic about our prospects in the metallurgical coke business due to the growth in Indian infrastructure and the resultant strong growth in several industrial segments including the steel sector. The investment by Gaja Capital Partners will enable Haldia Coke to double its manufacturing capacity of metallurgical coke which is in short supply in India.

Gaja Capital Partners also brings with it a strong track record of investing in India and partnering with several domestic companies to help them realize their potential.”

ENDS

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