Tata Sponge Iron has received environment clearance to raise the capacity of its Keonjhar facility in Odisha to 425,000 tonnes per annum. "In May 2017, the company has received an approval from the Ministry of Environment, Forest and Climate Change, Government of India, for enhancement of DRI production by 35,000 tonne (i.E. From 3,90,000 TPA to 4,25,000 TPA) in the existing facility located at Biliepada in Keonjhar, Odisha," Tata Sponge Iron said in its Annual Report 2016-17.
Tata Sponge Iron produced record 3,90,000 tonne sponge iron, also termed as direct reduced iron (DRI), during 2016- 17. The company said uninterrupted supply of iron ore has helped the company to achieve the record production. Tata Sponge Iron's plant is located in Bileipada near Joda in the Keonjhar district of Odisha. "Our plant is situated near one of India's richest iron ore reserves," the company said. The company also said its total power generation was at 185.47 million Kwh (kilowatt-hour) during financial year 2016 -17 as against 162.83 million Kwh during in the preceding year, an increase of 13 per cent. Tata Sponge Iron is a subsidiary of Tata Steel, wherein the latter holds 54.5 per cent shareholding. It produces and market sponge iron, which is a single grade product.
Moreover, the firm also produces power through Waste Heat Recovery Boilers (WHRB) enabling it to help reduce carbon emissions and earn carbon credits. Meanwhile, shares of the company were trading at Rs 843.50 apiece, up 1.85 per cent from the previous close at 10:45 hours on BSE.