Lloyds Metals and Energy commences DRI manufacturing facility in Gadchiroli; details inside

Lloyds Metals and Energy Limited (LMEL) has achieved a significant milestone in the Gadchiroli District of Maharashtra, where they successfully installed and commenced operations at a Direct Reduced Iron (DRI) manufacturing facility with a rated capacity of 70,000 Tons Per Annum (TPA) using a 4MW Waste Heat Recovery Boiler (WHRB)-based power plant. Remarkably, the company accomplished this feat within a span of just 13 months from the receipt of Environmental Clearance (EC) from the State Environment Impact Assessment Department, Maharashtra. This rapid and time-bound execution underscores the company’s remarkable efficiency in project management and execution. 

Notably, this newly established facility represents a substantial leap forward in advancing industrial development in Gadchiroli, marking the first industrial setup of significant scale to be established in the region in nearly a quarter of a century. This momentous achievement stands as a testament to our collective commitment to progress and innovation in this “Prime Minister’s Aspirational District.” 

Company profile

 Lloyds Metals and Energy Limited (LMEL), incorporated in 1977, is a Direct Reduced Iron (DRI) manufacturer and is the largest merchant iron ore miner in Maharashtra, India. It has a 3,40,000 TPA capacity for Direct Reduced Iron (DRI) across two Districts in Maharashtra and a 34MW waste heat recovery-based (WHRB) power plant. LMEL has a current capacity of 10 MTPA of iron ore at Surjagarh Village, Gadchiroli district in Maharashtra. With its iron ore mine advantageous location, it’s been able to access all the key markets across pan India. Driven by rich cultural values and decades of experience, we constantly seek new ways to revolutionize mining and iron-making. 

Today, shares of Lloyds Metals & Energy Ltd surged 0.69% to Rs 557 per share from its previous closing of Rs 553.2. 

The stock delivered remarkable returns, with gains of 180% within one year, an impressive 700% within two years, and an astounding increase of over 5,000% over a five-year period. 

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. It is based on several secondary sources on the internet, and is subject to changes. Please consult an expert before making related decisions.