Birla Corporation Limited expects mining at its coalmines at Bikram to start later in the current financial year, said Chairman Harsh Lodha on September 5.
Mining in coalmines at Marki Barka is expected to become operational in the financial year 2025-26, said Lodha at the company’s annual general meeting (AGM).
“Once operational, these mines will not only lead to savings in fuel cost but also provide a high degree of fuel security to the company. With the commissioning of these coalmines, we would have one of the highest source of captive fuel for kiln (more than 55 percent) in the industry – insulating us from the vagaries of the market,” he added.
ALSO READ: Buy Birla Corporation; target of Rs 1460: Motilal Oswal
Lodha said that Birla Corporation was successful in scaling up production from its Sial Ghoghri captive coalmine to the peak rated capacity in FY23 and reduced dependence on imported coal from 41 percent previously to 29 percent at present.
Birla Corp is also stepping up the generation of renewable power. The company, during the June quarter, commissioned a 5-megawatt solar power plant at Satna and raised its solar power generation to 41.2 megawatt.
“Renewables accounted for 23 percent of total power consumption in the June quarter—a record high. Our total WHRS capacity stands at 43.45 MW presently and we are examining ways to optimise this further. Our thermal power plants at Satna, Chanderia and Mukutban are air-cooled and not water-cooled. Even our WHRS units at Mukutban and Maihar are air-cooled. This helps us conserve huge amount of water,” said Lodha.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
