Godawari Power to invest Rs 1,570 cr in Chhattisgarh
Godawari Power and Ispat, an integrated steel manufacturer, on Monday said it will invest Rs 1,570 crore for setting up of manufacturing facilities in Chhattisgarh. Godawari Power has entered into a Memorandum of Understanding with Chhattisgarh government to this effect, the company said in a filing to Bombay Stock Exchange. The total project costs of Rs 1,570 crore would involve setting up of plants including a sponge iron, pig iron, steel billets, calcinations and iron ore pelletisation plant, the filing said adding that it would also come up with facilities for steel roll ed products, power and ferro alloys. The project would be implemented through a special purpose vehicle in the name of 'Krishna Global Mineral Limited' which would be a subsidiary of Godawari Power and Plant, the company said. Shares of the company were trading at Rs 223.40, up 2.69 per cent in the afternoon trade on BSE.
