Nava Bharat Ferro Alloys Ltd, manufacturer of Ferro Alloys and also into Power and Sugar sectors which has changed it’s name to “Nava Bharata Ventures Limited”, has floated a new venture Brahmani Infratech to set up an SEZ for IT and ITES businesses.

Brahmani Infratech has been alloted 250 acres of land by AP Govt to develop the SEZ. The allotment was to be made through Andhra Pradesh Industrial Infrastructure Corporation (APIIC) at Rs 20 lakh per acre for development of an IT SEZ in accordance with the Information and Communication Technology (ICT) policy 2005-2010 of the government. Brahmani Infratech Pvt Ltd has obtained physical possession of 250 acres of land allotted by AP government by paying a part of the consideration for 250 acres of the land. The detailed development plans including approval for establishment of SEZ are under process.

NAVA Bharat Ferro Alloys Ltd (NBFAL) is also evaluating expansion plans involving around Rs 200 crore investment for its ferro alloys, power and sugar facilities.

This is part of the company’s mega plan to attain control over power and ores in a bid to sustain long-term viability and be globally competitive, especially in the backdrop of recent violent swings in the prices of ores and finished products, the NBFAL Finance Director, Mr G.R.K. Prasad, said.

The Hyderabad-based Rs 559-crore company currently has three furnaces in Andhra Pradesh with a total capacity of 75,000 tonnes per annum and two furnaces in Orissa with a capacity of 50,000 tpa.

The company is also evaluating expansion of its power facilities. It currently has 50 MW capacity in Andhra Pradesh and 30 MW in Orissa. It is planning to set up an Rs 80-crore power plant with 32 MW capacity, which would take off by January next.

About Nava Bharat Ferro Alloys Limited (NBFA):
Nava Bharat Ferro Alloys Limited (NBFA) is a diversified company with business interests in power generation, ferro alloys, sugar & down stream products and infrastructure projects. It supplies world class products to companies across the globe.

NBFA was promoted by Dr. D. Subba Rao, Sri P.Punnaiah and Sri A.S.Chowdhri in 1972. NBFA began operations with manufacture of ferro silicon in 1975 at Paloncha in the State of Andhra Pradesh. Over the years, the capacity was enhanced and NBFA emerged as one of the largest manufacturer exporters of ferro alloys supported by 100% captive power, in India. NBFA diversified into production of Sugar and by products in 1980.

The Company commenced Generation of Thermal Power, mainly for captive use, in 1997 and subsequently enhanced the capacity and is today a supplier of power to the grid as well.

In 2005, the Company made a foray into Infrastructure Projects. Malaxmi NBFA Ventures Private Limited is set up by the Company along with the Malaxmi group to implement large projects in power, transportation and urban infrastructure.

Clear vision, customer focus, strict quality management and continuous improvement backed by highly competent and committed human resources contribute to NBFA’s success.

NBFA maintains a record of uninterrupted dividend payout since inception.

Sources:
http://economictimes.indiatimes.com
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www.blonnet.com
www.equitybulls.com
www.navabharatferro.com