MSP Steel & Power registers captive power plant with UNFCCC under CDM project

MSP Steel & Power Ltd has announced that Waste Heat Recovery based Captive Power Plant of the Company, has been registered with UNFCCC under CDM Project.

The Captive Power Plant is based on Waste Heat Recovery module whereby flue gas released by the Sponge Iron kiln is used to generate steam in the boiler thereby replacing fossil fuel for generating power. It will involve reduction of 59,000 Metric Tonnes of CO2, equivalent per annum, which will lead to a substantial revenue inflow by selling C E R credits (Certified energy reduction), which will accrue to the Company for a period of 10 Years.

The Company has already been accorded Coal Block by the Ministry of Coal to meet its coal requirement for next 30 years and its application for Iron Ore Mines in Chhattisgarh is in the advanced stages of consideration.

Shares of the company was trading up Re.0.10 or 0.67% at Rs.15 with volumes at 9901 shares compared to 2 week's average of 19238.

Source : Equity Bulls

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