Haldia Coke & Chemicals Private Limited (Haldia Coke), a leading producer of metallurgical coke has raised Rs 125 crore from private equity firm Gaja Capital Partners. Haldia Coke is promoted by Shriram EPC Ltd and other associates. The firm plans to use the funding to
expand its mining, metallurgical coke and power production capacity.
Haldia Coke is an integrated merchant met coke producer with met coke plants and captive coking coal mines. Haldia Coke owns an 80,000 metric ton per annum capacity met coke plant at Nergundi in Orissa through its wholly owned subsidiary Wellman Coke Ltd. In addition, Haldia Coke holds a 60.86% stake in Ennore Coke Limited which owns a 130,000 metric ton per annum capacity met coke plant and a by-product power plant at Haldia in West Bengal.
Haldia Coke also holds two coking coal mines in West Virginia and Arkansas, USA with combined production capacity of 423,000 ton per annum and extractable reserves of 25 million MT.
“We are optimistic about our prospects in the metallurgical coke business due to the growth in Indian infrastructure and the resultant strong growth in several industrial segments including the steel sector,” said T Shivaraman, Managing Director of Shriram EPC Limited.
This would be the first known investment by Gaja Capital in the industrial sector. The PE firm has till now focused on the services sectors, especially education and manpower training. Its other
portfolio companies include Educomp, Career Launcher and Teamlease. Gaja Capital has also invested in financial services firm Bonanza.