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Lloyds Metals and Energy Ltd received environmental clearance for its 1.2 MTPA wire rod and 4.0 MTPA pellet plant projects at Ghugus, Maharashtra. This move is expected to impact Lloyds Metals and Energy share price positively.
Lloyds Metals and Energy Ltd has received environmental clearance from the Ministry of Environment, Forest, and Climate Change for its ambitious projects at Ghugus, Chandrapur, Maharashtra. The clearance was granted for the 1.2 million tonne per annum (MTPA) wire rod project and the 4.0 MTPA pellet plant project. This milestone marks a significant step towards expanding the company's production capabilities, strengthening its presence in the iron and steel sector.
The clearance comes after consistent growth in production figures, with Lloyds Metals reporting a 22% year-on-year increase in direct reduced iron (DRI) production, reaching 238,000 tonnes over nine months. Iron ore production also surged by 5% year-on-year to 8.6 million tonnes. These achievements position Lloyds Metals favourably in the market and could positively impact Lloyds Metals and Energy share price, as the company expands its production capacity.
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Lloyds Metals received environmental clearance for wire rod and pellet plant projects.
The projects will be set up at Ghugus, Chandrapur, Maharashtra.
Wire rod project capacity: 1.2 MTPA, pellet plant capacity: 4.0 MTPA.
Recent production growth: 22% rise in DRI production and 5% rise in iron ore production.
Positive impact expected on Lloyds Metals and Energy share price.
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Lloyds Metals and Energy Ltd’s new projects are poised to significantly boost the company’s production capacity. The 1.2 MTPA wire rod project aims to enhance the production of high-quality wire rods to meet growing domestic and international demand. Meanwhile, the 4.0 MTPA pellet plant project will enable the company to produce a substantial volume of iron ore pellets, vital for steel production.
The company’s previous achievements include recording the highest monthly DRI production in December 2024, operating at nearly full capacity. With the addition of these new projects, Lloyds Metals aims to consolidate its position as a leading iron ore miner and DRI producer in Maharashtra.
The approval of these projects is expected to reinforce Lloyds Metals’ reputation as a prominent player in the iron and steel sector. The company, incorporated in 1977, currently operates a 34 MW waste heat recovery-based power plant, which supports its energy needs while maintaining a sustainable production process. The new ventures are likely to increase the company’s output and further strengthen its market position.
Parameter | Production Volume | Growth (%) |
DRI Production (9 Months) | 238,000 Tonnes | 22% |
Iron Ore Production (Yearly) | 8.6 Million Tonnes | 5% |
Pellet Plant Capacity | 4.0 MTPA | - |
Wire Rod Project Capacity | 1.2 MTPA | - |
The environmental clearance is expected to have a positive impact on the Lloyds Metals and Energy share price. As the company enhances its production capacity and expands its project portfolio, investor confidence is likely to strengthen. On the BSE, shares of Lloyds Metals and Energy Ltd closed at Rs 1,257, up by Rs 6.90 or 0.55%, reflecting positive market sentiment.
With environmental clearance secured for the wire rod and pellet plant projects, Lloyds Metals and Energy Ltd is on track to significantly boost its production capacity. As the company moves forward with these strategic expansions, the Lloyds Metals and Energy share price is expected to witness positive momentum. The successful execution of these projects will solidify the company’s market standing and drive sustainable growth in the coming years.
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