Ferro Alloys
Facor group is one of the oldest and largest ferro alloys producer in the country. The group has three companies, Ferro alloys corporation, Facor alloys, Facor steel, as a result of trifurcation in FY01 following bankruptcy. The total installed capacity of the group is 140,000tpa of ferro alloys (65,000tpa of Cr alloys in Ferro alloys corporation, and 75,000tpa of Mn alloys in Facor alloys), and 50,000tpa of alloy steel plant in Facor steel).Ferro alloys corp - Moving towards complete backward integration .
The flagship company of the group, Ferro alloys corporation has limited backward integration in the form of captive Cr ore mines with reserves of 6mn tonnes and Cr ore processing facility of 300,000tpa. However, 50% of the processing facility is dedicated to conversion of Cr ore from Tata Steel into processed ore, as company is able to extract only 200,000tpa of Cr ore from its mines due to technical reasons.
To move towards complete backward integration, the company is planning to set up a 45MW by Sep '09. Capital requirement of Rs2.0bn for the project is to be funded by way of DER of 4:1, out of which debt to the tune of Rs1.0bn has been tied up with rural electrification..
Ferro alloys corporation has mega expansion plans to set up an integrated stainless steel plant of capacity 0.5mntpa along with 250MW of coal-based power plant. However, capital requirement of Rs25.0bn for the project, which the company want to fund by the way of Rs17.0bn of debt andRs8.0bn of equity, is to be tied up
