HEG Ltd to expand capacity to 80K MT per annum from next year

Bhopal : HEG Ltd, one of the largest manufacturers and exporters of graphites electrodes in South Asia, on Thursday announced that scaling up of its plant in Mandideep involving an investment of additional Rs 245 cr shall be complete by mid of next year. By then the company shall start producing 80,000 MT graphite electrodes per annum, making it world’s largest integrated manufacturing plant. Group Chairman Shri Ravi Jhunjhunwala announced this on the eve of Group’s golden jubilee celebrations, which will be inaugurated by MP Chief Minister Shri Shivraj Singh Cauhan on Friday.
Shri Ravi Jhunjhunwala added, “The current capacity of Mandideep plant is 66000 MT per annum which required an investment of Rs. 1123 crore (26 million USD). The company recorded turnover of approx Rs 1300 crore during financial year 2010-11. With this installed capacity we are world’s largest single site producers of Graphite Electrodes”. After the current expansion plan the, the gross investment figure at Mandideep will be Rs 1368 crore. HEG Ltd is a group company of Rs 5000 cr business conglomerate LNJ Bhilwara Group, with strong presence in textiles and power. The Group thanked people of the state, government, banks and institutions for helping the group grow into one of country’s largest business conglomerates. Starting with a small unit of textiles in Bhilwara town of Rajasthan five decades ago, the LNJ Bhilwara Group is today counted among leading Indian businesses having a turnover of approx Rs 5000 cr. HEG Ltd, one of the leading companies of Group, which was set up in Mandideep-Bhopal, in 1972 , today stands tall as a Rs 1300 cr company.
“We pay our gratitude to the glory of the land and its wonderful people. We are delighted at turning 50 and convey our best wishes to the people of Madhya Pradesh for having given us the strength to grow and diversify into to a large business group,” said Shri LN Jhunjhunwala, who laid the foundation of the group at Bhilwara, in Rajasthan 50 years ago. Recalling his days in early seventies in Madhya Pradesh, Shri Jhunjhunwala said, “When I started at Mandideep around 40 years ago, it was a small place. It is so gratifying to see the development at Mandideep and our efforts have resulted in the establishment of HEG Ltd, which is now the world’s largest single site producer of Graphite Electrodes. I am happy that our small initiative is helping thousands of families and today the area is making rapid progress.” HEG Ltd employs more than 1000 people at its Mandideep plant, and sells its high quality Graphite Electrodes in more than 80 countries worldwide. 38% of HEG’s product is being sold to the world’s top 20 steel companies, thereby contributing handsomely to the state’s economy.
Company officials informed Madhya Pradesh Chief Minister Shri Shivraj Singh Chauhan will be the chief guest at the inauguration function on November 18, which shall be attended among others by local officials, company’s suppliers, industry associations, MLAs, voluntary groups and others. Shri Digvijay Singh, former CM of Madhya Pradesh, will also grace the function along with many other dignitaries.
On the next day, there will be a visit of HEG Plant. In the evening Shri LN Jhunjhunwala will felicitate the employees and there will be staging of the mono act by renowned artist Shri Shekhar Sen. The Group, which after establishing itself in Textiles and Graphite Electrodes business, subsequently forayed into Power Generation and IT enabled services , said it owes its steady growth to communities it worked with. To ensure the company gives back to society, the Group has taken a number of social initiatives.