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HEG Ltd. — Capital/Financing Update 2023
Nov 8, 2023
61624_rns_2023-11-08_3d42cefb-0022-473e-ac62-3c34eeab2da2.pdf
Capital/Financing Update
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| HEG/SECTT/2023 | HEG/SECTT/2023 | HEG/SECTT/2023 | 8thNovember, 2023 National Stock Exchange of India Limited Exchange Plaza, 5th Floor Plot No.C/1, G Block, Bandra - Kurla Complex Bandra (E), MUMBAI - 400 051. Scrip Code : HEG |
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|---|---|---|---|---|
| 1 | BSE Limited P J Towers Dalal Street MUMBAI - 400 001. Scrip Code : 509631 |
2 | National Stock Exchange of India Limited Exchange Plaza, 5th Floor Plot No.C/1, G Block, Bandra - Kurla Complex Bandra (E), MUMBAI - 400 051. Scrip Code : HEG |
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Sub: Press Release
Dear Sir/Madam,
Please find attached copy of Press Release which is being issued on update on Expansion of the Company.
Please take the same on record.
Thanking you, Yours faithfully, For HEG Limited VIVEK Digitally signed by CHAUDHAR VIVEK CHAUDHARY Date: 2023.11.08 Y 20:46:29 +05'30' (Vivek Chaudhary) Company Secretary M.No. A-13263 [email protected]
Encl. as above
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PRESS RELEASE FOR UPDATE ON EXPANSION
HEG Limited is pleased to announce the completion of expansion project taking its capacity from 80,000 tons to 100,000 tons per annum & becoming the largest Graphite Electrodes Plant in World under one roof.
Although most of the process shops were already operational for past few months, the last shop came under commercial production with effect from 1st Nov’ 2023.
The expansion costed approx Rs.1200 crore and took 3 years to complete.
The company could do it in record time despite interruption due to Covid in 2020 and 2021.
Company has taken special care to get the state of the art equipments and technologies which are also environmentally friendly making it the latest and most modern plant in the world.
As the world moves towards decarbonisation, there will be more and more shift towards Electric Arc Furnaces from Blast Furnaces as EAFs are a much greener way of making steel with carbon emissions being one fourth of Blast Furnaces.
With the completion of expansion, HEG today becomes the third largest Graphite electrode company in the western world.
For HEG Limited
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(Manish Gulati)
Executive Director