Chandrapur’s ferroalloy plant in loss, blames power co

Despite surge in the steel market, Chandrapur Ferroalloy Plant (CFP) is still reeling under the steep losses thanks to alleged apathy of Maharashtra State Electricity Distribution Company Ltd (MSEDCL) towards providing the promised incentive against the power consumption. CFP has incurred losses of around Rs10 crore in last five months, sources have informed. CFP, a unit of Steel Authority of India Ltd (SAIL), requires 46MW of power per day for production. The plant is purchasing its entire power from MSEDCL since July 1, hoping to earn high incentive promised by MSEDCL for high-end power consuming industries. Sources explained that normally it costs around Rs7 per unit of industrial power consumption, but new MSEDCL GR promises of providin.....