- 08 Sep 2022
- ICICIdirect Research
HEG’s graphite electrode capex likely to be commissioned by December 2022HEG - 922 Change: -7.65 (-0.82 %)
News: HEG is planning to commission its graphite electrode capacity expansion by December 2022. The total capex for expanding the graphite electrode capacity to 100000 tonnes per annum from 80000 tonnes per annum is Rs 1200 crore. This is the first phase of capex in Madhya Pradesh by HEG. For the second phase, HEG has also chalked out new additional investment to the tune of Rs 800 crore.
View: HEG has planned an aggregate of Rs 2000 crore of capex in Madhya Pradesh in two phases wherein Rs 1200 crore of capex would be done in the first phase for graphite electrode capacity expansion. In the second phase, new investment is being made in Madhya Pradesh for manufacturing graphite anodes. In view of the increasing demand for electric vehicles, the scheme for the new plant has been prepared for manufacturing graphite in Madhya Pradesh with an investment of Rs 800 crore. For this new investment, 100 acres of land near Gwalior or Indore is being considered.