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Indian Express
a day ago
- Business
- Indian Express
Fadnavis to inaugurate mega projects in Gadchiroli today
Marking a new chapter in the development of the state and in the industrial growth of Gadchiroli district, Chief Minister Devendra Fadnavis will inaugurate various projects of Lloyds Metals and Energy Ltd (LMEL) in a grand ceremony at Konsari on Tuesday. He will also lay the foundation stone for the mega Integrated Steel Plant of the company. Fadnavis will inaugurate the first phase of 5-Million Tonnes Per Annum (MTPA) iron ore grinding plant at Hedri in Gadchroli district, a 10 MTPA capacity slurry pipeline from Hedri-Konsari, and 4 MTPA capacity pellet plant at Konsari. Besides, he will perform bhoomipujan of 4.5 MTPA capacity mega Integrated Steel Plant, 100-bedded hospital and a CBSE-patterned school at Konsari in the programme to be held at 12 pm on Tuesday. He will also perform bhoomipujan for LMEL's Somanpalli township. Adv Ashish Jaiswal, Joint Guardian Minister of Gadchiroli district; Dharmaraobaba Atram, MLA; Milind Narote, MLA; B. Prabhakaran, Managing Director, LMEL; Ankit Goyal, DIG, Gadchiroli Range; Avishyant Panda, District Collector; Ashok Nete, former MP; Dr Deorao Holi, former MLA; Shrikant Pawde, Sarpanch of Konsari; 'Padma Shri' Tulasi Munda, and other dignitaries will be present. The occasion marks a significant milestone in industrial growth of Gadchiroli. Over the past few years, since LMEL has commenced operations of Surjagarh iron ore mines and the DRI, pellet plants at Konsari, there has been significant growth in employment to locals. Even the surrendered Naxalites have been trained by the company in industry-oriented skills and absorbed them in jobs to aid the process of integrating them in the mainstream of society. Further, this industrial revolution has provided a never-before boost to the development of Gadchiroli. According to B Prabhakaran, 'July 22, 2025 is going to be recorded in the history of Gadchiroli as well as Maharashtra in golden letters. With the foundation stone being laid for Vidarbha's mega Integrated Steel Plant at Konsari in Gadchiroli district, a step is being taken towards realising the historic dream of making Gadchiroli a steel hub of the country. More than 140 years ago, Gadchiroli would have been the birthplace of the Indian steel industry. Nonetheless, now is the time for Gadchiroli to rise and shine'. 'Lloyds Metals and Energy Ltd is proud of being the driver of the industrial revolution here. After successful green operations of iron ore mines at Surjagarh, commissioning of DRI plant and pellet plant at Konsari, now a giant leap of faith is being taken in the form of Integrated Steel Plant. We thank the government of Maharashtra, Chief Minister Devendra Fadnavis for his vision and support to Gadchiroli's development, people of Gadchiroli, and all our stakeholders for helping us make Gadchiroli the first district of Maharashtra. Now, the foundation stone is being laid for Gadchiroli's bright future, enhanced contribution to Maharashtra's economy, and India's national vision of making Green Steel,' he added.
Indian Express
21-06-2025
- Business
- Indian Express
Bombay HC dismisses 2 PILs against Lloyds Metals
The Nagpur bench of the Bombay High Court has dismissed two public interest litigations (PILs) challenging the grant of permission to the capacity expansion of the Surjagarh iron ore mines of Lloyds Metals and Energy Ltd (LMEL) in Gadchiroli. While the PILs were quashed on May 9, the order copy was uploaded on June 19. The high court found both the PILs to be without merit. The PILs filed by Samarjeet Chatterjee, a mining contractor from Raipur, Chhattisgarh, alleged that the process of environmental clearance (EC) granted by the Union Ministry of Environment, Forest and Climate Change (MoEF&CC) for expansion of mining capacity from 3 million tonnes per annum (MTPA) to 10 MTPA and further Terms of Reference (ToR) towards expansion from 10 MTPA to 26 MTPA were 'illegal'. The division bench comprising Justices Nitin Sambre and Abhay Mantri observed that 'the complete procedure based on the ToR is followed,' and found that both the PILs were devoid of merit. The petitioner also alleged that the public hearing was conducted at a place far away from the project site. The court observed, 'The fact remains that in compliance with the Environmental Impact Assessment notification dated May 29, 2006, as amended on December 01, 2009, a public hearing was conducted at the [Gadchiroli] District Headquarters, which is perhaps properly secured in view of the Naxal menace.' The counsel for the respondents submitted that the petitioner has no locus standi, and since he never attended the public hearing conducted by the collector at the district headquarters, he lost the opportunity to question the legality of the orders impugned in these PILs. Further, the counsel submitted that the initial EC was granted in 2005-06 after the hearing conducted by the collector at the very same place, and the said hearing was never questioned by the petitioner for the last 20 years. The counsel added that the EC for 10 MTPA was issued by the MoEF&CC under strict compliance with and adherence to the provisions of the EIA Notification dated May 29, 2006 and the SOP issued by the ministry. Though the public hearing was conducted at Gadchiroli district headquarters on the recommendation of the Police Department as the project site fell within the Naxal-affected area, all the locals were given due opportunity to present their say on the mining project, the court observed. The high court further stated that the courts should be sensitive and careful to the fact that the petitioner should not be allowed to indulge in making wild and reckless allegations. Since the petitioner stated that his annual income was Rs 4-5 lakh, the court observed, 'We fail to understand as to what is the source of expenses incurred by the petitioner as there is a serious doubt about his bona fides also'. With due observations, the high court dismissed both the PILs without costs.
Time of India
05-06-2025
- Business
- Time of India
Lloyds Metals reduces carbon footprint by 55% with Maharashtra's first slurry pipeline
After decarbonising its mining operations, Lloyds Metals and Energy Ltd (LMEL) is now focusing on green logistics in the Gadchiroli district—an emerging steel manufacturing hub. The company has significantly reduced the carbon footprint of iron ore transportation by introducing an 87-kilometre-long slurry pipeline from its grinding plant at Hedri to the pellet plant at Konsari. The slurry pipeline, laid from the Surjagarh Iron Ore Mines to Konsari, has now been fully constructed and successfully tested. This pipeline is a major step in LMEL's commitment to green logistics, sustainability, and responsible industrial practices. Highlighting its significance, B. Prabhakaran, Managing Director, LMEL, stated: 'The commissioning of this slurry pipeline is a momentous occasion, marking the first such project in India after a gap of 11 years. Importantly, it will be the fourth operational iron ore slurry pipeline in the country and the first in the state of Maharashtra. This achievement firmly positions Lloyds Metals and Energy Ltd as a true pioneer in the region.' The pipeline is expected to reduce freight costs by ₹500–600 per tonne. It offers a dual benefit—significant cost savings and a reduced carbon footprint, reflecting LMEL's environmental stewardship. There are two scenarios in the transportation of iron ore: one using coal-based power and another powered by renewable energy sources such as solar or wind. In the coal-powered scenario, transporting iron ore by road emits approximately 11 kg of carbon per tonne, equating to 1.1 lakh tonnes of emissions annually. In contrast, transportation via the slurry pipeline can reduce carbon emissions by 55%, amounting to a reduction of 61,000 tonnes per year, or 184 tonnes per day. If renewable energy is used to power the slurry pipeline, LMEL can potentially eliminate up to 100% of these emissions—an annual reduction of 1.1 lakh tonnes. In that scenario, carbon emissions would decrease by 333 tonnes per day, or approximately 9,200 tonnes per month. LMEL aims to achieve this milestone shortly. 3 lakh trees planted—and counting Minimising waste, transitioning to green energy, and reducing its carbon footprint are only a few components of LMEL's broader environmental commitment. Under its 'Mission Green' initiative—aligned with the vision of producing India's 'green steel'—the company has planted over 3 lakh trees across various locations. Thousands of saplings have also been distributed to key stakeholders, reinforcing a community-led approach to sustainability. By forest clearance conditions, LMEL allocated 377.58 hectares of private land in Arvi and Karanja talukas (Wardha district) for compensatory afforestation, in lieu of 374.90 hectares diverted for the Surjagarh Iron Ore Mine. A deposit of ₹2.49 crore was made with the Compensatory Afforestation Fund Management and Planning Authority (CAMPA). Within this area, the State Forest Department planted 2,56,388 native saplings in Arvi taluka, which have since taken root. This land was officially declared a reserved forest on June 16, 2023—an encouraging testament to the initiative's success. At the Surjagarh mines, LMEL has planted 5,285 native saplings within the designated safety zone and an additional 14,000 saplings along roads from Etapalli to Hedri. To engage the local community, fruit gardens have been established by planting 1,800 saplings and distributing over 9,500 fruit-bearing saplings to residents. At its DRI Plant (Unit-2) in Konsari, LMEL has planted nearly 50,000 saplings over 17 hectares, in collaboration with the local Forest Department and using native species. As part of its greenbelt development strategy, LMEL continues to support biodiversity through the plantation of diverse native flora. Additionally, around 19,000 fruit-bearing plants have been distributed and planted in nearby villages to promote local participation in sustainable greening efforts. Disclaimer: The article has been produced on behalf of Lloyd Metals by the Times Internet's Spotlight team.
Time of India
08-05-2025
- Business
- Time of India
Surjagad Ispat secures higher state incentive for steel plant in Gadchiroli
Nagpur: Surjagad Ispat , the company that has proposed a Rs 10,000 crore steel plant in Vadlapeth village in Gadchiroli district, secured a higher incentive to the tune of 150% of the amount invested in the project. The decision came over a fortnight ago. This will be the second major steel plant coming up in the Maoism-affected district . Earlier, the govt offered an incentive of 110% as part of the moves to boost industrial projects in the the company insisted that the incentive, which mainly comes in the form of state goods and services tax (SGST) refund, should be increased to at least 150%. This was considering the risk in north Gadchiroli due to the presence of Maoists. Operation Sindoor Operation Sindoor: Several airports in India closed - check full list Did Pak shoot down Indian jets? What MEA said India foils Pakistan's attack on Jammu airport: What we know so far A higher incentive would lead to bankers' confidence in granting funds for the project. The state finally agreed, said sources who are part of the development, giving a boost to the company's company also held a public hearing to get environmental clearance for the Valadpeth project in March. A final clearance is expected soon, said sources. Lloyds Metals and Energy Ltd (LMEL) is already building a plant in the district, as JSW announced a plan to set up the world's largest steel plant at Gadchiroli earlier this Group, a company held by the same promoters of Surjagad, also signed a memorandum of understanding (MoU) with the state govt to set up a lithium refinery for an investment of Rs 42,000 crore in Nagpur. The company will also mine lithium in Zimbabwe. The state govt plans to develop Gadchiroli as a hub for steel industry.
Business Upturn
28-04-2025
- Business
- Business Upturn
Lloyds Metals shares drop 3% after Q4 net profit falls 27% YoY to Rs 202 crore
Lloyds Metals and Energy Ltd shares dropped 3% in morning trade on Monday after the company reported a 27% year-on-year (YoY) decline in net profit for Q4FY25. The net profit fell to ₹202 crore, compared to ₹277 crore in Q4FY24. Revenue from operations also slumped 23.2% YoY to ₹1,193 crore from ₹1,554 crore. Lloyds' earnings before interest, tax, depreciation, and amortisation (EBITDA) dropped sharply by 43% to ₹260.7 crore against ₹458 crore in the year-ago period. The EBITDA margin contracted to 21.9% in Q4FY25, down from 29.5% last year, indicating pressure on operational efficiency. Advertisement Despite the weak financial performance, the company announced a final dividend of 100% — ₹1 per equity share of face value ₹1 — for the financial year ended March 31, 2025. The dividend payout is subject to shareholder approval at the upcoming Annual General Meeting (AGM). Details regarding the record date and book closure will be announced separately. Lloyds Metals shares opened at ₹1,244.00 today, reaching a high of ₹1,246.10 and a low of ₹1,201.10 during the session. The stock remains strong, trading closer to its 52-week high of ₹1,478.00, while its 52-week low stands at ₹592.00. Disclaimer: The information provided is for informational purposes only and should not be considered financial or investment advice. Stock market investments are subject to market risks. Always conduct your own research or consult a financial advisor before making investment decisions. Author or Business Upturn is not liable for any losses arising from the use of this information.
