Godawari Power and Ispat (GPIL) received final approval from Government of India, Ministry of Environment & Forests & Climate Change (Forest Conservation Division) for Diversion of 32.36 ha forest land for Iron Ore Mining in Ari Dongri, Village Kachche, Dist: Baster, Kanker, Chhattisgarh.
Upon execution of mining lease and commencement of operation in the additional 32.36 ha, the total mining lease area of Ari Dongri Iron ore mines will get expanded from 106.60 ha to 138.96 ha and the production capacity from 0.7 MTPA to 1.405 MTPA which is expected to be executed within next 2-3 months. Post commencement of commercial operation in enhanced mining area, the entire requirement of iron ore of the Company shall be met from captive iron ore mines upon achievement of full production in captive iron ore mines, leading to cost savings.
Godawari Power and Ispat is engaged in the production of sponge iron, steel billets, ferro alloys, HB wires, oxygen, fly ash bricks and is also in the power business. GPIL is a flagship company of Raipur-based Hira Group of Industries, which is an integrated steel manufacturer and is having dominant presence in the long product segment of the steel industry; mainly into mild steel wire.
Godawari Power & Ispat is currently trading at Rs. 139.70, up by 9.70 points or 7.46% from its previous closing of Rs. 130.00 on the BSE.
Upon execution of mining lease and commencement of operation in the additional 32.36 ha, the total mining lease area of Ari Dongri Iron ore mines will get expanded from 106.60 ha to 138.96 ha and the production capacity from 0.7 MTPA to 1.405 MTPA which is expected to be executed within next 2-3 months. Post commencement of commercial operation in enhanced mining area, the entire requirement of iron ore of the Company shall be met from captive iron ore mines upon achievement of full production in captive iron ore mines, leading to cost savings.
Godawari Power and Ispat is engaged in the production of sponge iron, steel billets, ferro alloys, HB wires, oxygen, fly ash bricks and is also in the power business. GPIL is a flagship company of Raipur-based Hira Group of Industries, which is an integrated steel manufacturer and is having dominant presence in the long product segment of the steel industry; mainly into mild steel wire.
Godawari Power & Ispat is currently trading at Rs. 139.70, up by 9.70 points or 7.46% from its previous closing of Rs. 130.00 on the BSE.
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