NEW PROJECTS COMMISSIONED
SODIUM FORMALDEHYDE SULF OXYLATE PLANT (TANGOLITE)
The company has set up a Plant for manufacture of Sodium Formaldehyde Sulf Oxylate, each of 500 tonnes capacity, per annum. The Sodium Formaldehyde Sulf Oxylate Plant was commissioned in March 1991.
The plant was set up at a cost of Rs.2 Crores by availing finance from the Industrial Credit and Investment Corporation of India Ltd. (ICICI) through Buyers Line of Credit. This was duly repaid in full by March ’96.
The product has been well received in the market and is comparable to similar products available in the market. It is being marketed, throughout the country, under the brand name of ‘Tangolite’.
WIND MILL PROJECT
The company has set up 12 Wind Electric Generators of 225 KW each, at Kayathar, in Thirunelveli District, in Tamil Nadu, with the financial assistance of Rs.2 Crores from the Industrial Development Bank of India (IDBI) and Rs.6.80 Crores from the Indian Renewable Energy Development Agency Ltd. (IREDA). All the 12 windmills have been duly installed and commissioned and the energy generated has been drawn for our factory at Karaikudi.
The company has also set up 7 Wind Electric Generators of 500 KW each, at Palladam Taluk, in Coimbatore District, in Tamil Nadu, at a cost of about Rs.20 Crores, with the financial assistance of Rs. 14.45 Crores from the IndusInd Bank Ltd and Rs.5.55 Crores from internal accrual.
The company has also set up 6 Wind Electric Generators of 500 KW each, at Thenkasi Taluk, in Thirunelveli District, in Tamil Nadu, at a cost of Rs. 20 Crores, financed from internal accrual.
EXPANSION OF SODIUM HYDROSULPHITE PLANT CAPACITY
The company has expanded the capacity of the Hydrosulphite Plant (SHS) from 4600 tonnes (re-endorsed) to 8500 tonnes per annum by adding filter dryer and other balancing equipments. The company has, out of its own internal accruals, successfully expanded the existing capacity. Due to consistent R&D efforts carried out by the company, the company was able to increase the yield per batch and consequently was able to achieve higher production.
ZINC FORMALDEHYDE SULPHOXYLATE (TANGOLIN)
The company has, by its R&D efforts, successfully commissioned the Zinc Formaldehyde Sulphoxylate Plant out of the funds from its internal generation and has been marketing its new product under the brand name ‘Tangolin’. The licensed capacity of the Plant is 500 tonnes per annum.
EXPANSION OF THE SODIUM FORMALDEHYDE SULPHOXYLATE PLANT (TANGOLITE)
The company has also expanded the production capacity of the existing Sodium Formaldehyde Sulphoxylate plant from 500 tonnes and has been marketing the same.
TRISALT AND DRUM PLANT
As a part of backward integration, the company, by its R&D efforts, has been successful in identifying three salts, viz., Sodium Formate, Sodium Sulphate and Sodium Thio Sulphate out of the company’s effluent discharge thereby reducing the effluent almost to a zero level. These trisalts are being marketed and has value addition and is being used in leather, paper and photographic industries.
The company has set up a Drum Plant to meet its own packing requirements of Hydrosulphite, Tangolin and Tangolite, which has, to a certain extent, reduced the cost of packing.
63.5 MW COAL BASED POWER PLANT
The company had identified a 63.5 MW new, but unused, Coal Fired Power Plant in South Africa. This plant was supplied and erected in South Africa by an Italian company GIE, presently known as the Ansaldo Group. The plant, which was nearly fully erected at
Boputhatswana, in South Africa, could not be run, due to political reasons. It was decided by the Government of South Africa to sell the Power Plant.
TCP had deputed a team of its Power Plant specialists to inspect and examine the condition of the Power Plant. It was found that M/s Merz and Mclellan in South Africa and M/s Dryden Combustion Company, South Africa, had preserved the Power Plant in an excellent condition, as per the preservation procedure of the Original Equipment Manufacturers.
Based on the technical information and Plant condition, TCP Ltd purchased the Power Plant through Redington India Private Limited, Singapore, under, as is where is condition, and was brought to India for up gradation and reerection and commission at Gummidipoondi, in Thiruvallur District, Tamil Nadu.
Erection and commissioning
The plant was erected and successfully commissioned during September 1999. It has been operating at its targeted capacity without any hindrance. The company has entered into a Power Purchase Agreement with the TNEB for the supply of the power generated at its Plant to the TNEB Grid. The Power Plant has been successfully generating and supplying the Power to the TNEB Grid.
Project Cost and Means of Financing
The project cost of the plant for re-erection, after dismantling the same from South Africa, was estimated and appraised at Rs.109.84 Crores by Industrial Credit and Investment Corporation of India Ltd. (ICICI) a leading Financial Institution. ICICI along with Indian Overseas Bank (IOB), C& IC Branch, sanctioned a Term Loan assistance of Rs.71.40 Crores and the balance of Rs.38.44 Crores was brought in by the Promoters by way of interest free unsecured loan and by issue of 33,54, 606 Equity Shares of Rs.10/- each, by way of Rights offer, in the ratio of 2 Equity Shares for every 1 Equity share, at par, at Rs.10/- each, to the existing shareholders, on the record date of 7th July 2000.
The company, as part of further diversification, has identified wheat products manufacturing unit. The unit has been purchased and is given on lease.
6 MW BIOMASS BASED POWER PROJECT
The company is presently implementing a 6 MW Biomass based Power Plant at a cost of around Rs.22 Crores duly financed partly by the Bankers and partly out of internal generation.