Godawari Power to build ₹7,000 crore steel plant in Chhattisgarh; shares jump 5%

• Godawari Power & Ispat Ltd (GPIL) board approved a 1 MTPA integrated steel plant.
• The ₹7,000 crore project will be located in Sarora village, Tilda tehsil, Raipur district, Chhattisgarh.
• It will produce heavy and medium structural steel and wire rods, funded by debt and internal accruals (1:1 ratio).
• The plant is expected to be completed in approximately three and a half years.
• GPIL aims to capitalize on growing demand and strengthen its product portfolio for long-term growth.

Key Questions Answered

How will Godawari Power fund its new ₹7,000 crore steel plant?

Godawari Power will fund its new ₹7,000 crore steel plant through a 1:1 mix of debt and internal accruals.

What is the current steel capacity utilization of GPIL's Siltara facility?

GPIL's Siltara facility is operating at over 95% steel capacity utilization. The facility has an existing steel capacity of 0.5 MTPA.

How much did GPIL's shares gain after the steel plant announcement?

GPIL's shares gained 4.86% following the steel plant announcement. The company's board approved the establishment of a 1 million tonnes per annum integrated steel plant in Chhattisgarh.