Gujarat NRE Coke to invest Rs 700 crore in AP
Gujarat NRE Coke, the largest non-captive manufacturer of Low Ash Metallurgical (LAM) Coke in India, plans to invest about Rs 700 crore in its greenfield plant in Andhra Pradesh over a period of three years. The company would invest Rs 350 crore in a 1 million tonne coke plant in the state, for which it has already acquired 200 acres of land. Apart from this, the company would also spend Rs 50 crore for setting up a coal washery there and subsequently another Rs 300 crore would be invested for setting up a waste heat recovery unit. According to the company, the entire investment would be funded through a mix of debt and internal accruals.
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