Upstream oil major ONGC Limited has now allocated additional 15000 SCMD (standard cubic metres per day) of gas to Steel Exchange India Limited (SEIL, BSE Scrip Code - 534748) which is one of the largest steel manufacturers in the private sector in Andhra Pradesh for its Captive Power Plant at Kothapeta.
The gas will be supplied from Kammapalem field, Rajahmundry Asset on fall-back basis in pursuant to Ministry of Petroleum & Natural Gas (MoP&NG) guidelines for allocation of gas from small/isolated fields & Marginal fields.
The total gas allocation now stands at 75,000 SCMD per day. SEIL has facility to generate upto 12 MW of power at its Kothapeta plant. Presently SEIL is supplying the unutilized power upto 9 MW to APTRANSCO.
Expressing his views on this allocation Mr. B. Satish Kumar - Managing Director, Steel Exchange India Limited said, " We are very happy and take pride to note ONGC has approved our bid and allocated the gas. We have recently upgraded our gas engines for efficient working and We will be able to reach our full potential of power generation at Kothapeta with this allocation."
About Steel Exchange India Limited
Steel Exchange India Limited was incorporated in Feb'1999 as Pyxis Technology Solutions Limited (PTSL). The Company is promoted by first generation enterpreneurs and technocrats. Pyxis Technology Solutions was a software Company focused on development of business to business specific online solutions. The promoters were originally into trading of steel & steel related products under the banner of Vizag Profiles a well known group in Vishakhapatnam. After gaining substantial experience in steel trading, the promoters decided to launch a portal based steel trading platform. In December 1999 M/s Steel Exchange India Limited (SEIL) was incorporated as a 100% subsidiary of PTSL. M/s Pyxis approached the Capital Markets with its maiden Initial Public Offering in June 2000.
The gas will be supplied from Kammapalem field, Rajahmundry Asset on fall-back basis in pursuant to Ministry of Petroleum & Natural Gas (MoP&NG) guidelines for allocation of gas from small/isolated fields & Marginal fields.
The total gas allocation now stands at 75,000 SCMD per day. SEIL has facility to generate upto 12 MW of power at its Kothapeta plant. Presently SEIL is supplying the unutilized power upto 9 MW to APTRANSCO.
Expressing his views on this allocation Mr. B. Satish Kumar - Managing Director, Steel Exchange India Limited said, " We are very happy and take pride to note ONGC has approved our bid and allocated the gas. We have recently upgraded our gas engines for efficient working and We will be able to reach our full potential of power generation at Kothapeta with this allocation."
About Steel Exchange India Limited
Steel Exchange India Limited was incorporated in Feb'1999 as Pyxis Technology Solutions Limited (PTSL). The Company is promoted by first generation enterpreneurs and technocrats. Pyxis Technology Solutions was a software Company focused on development of business to business specific online solutions. The promoters were originally into trading of steel & steel related products under the banner of Vizag Profiles a well known group in Vishakhapatnam. After gaining substantial experience in steel trading, the promoters decided to launch a portal based steel trading platform. In December 1999 M/s Steel Exchange India Limited (SEIL) was incorporated as a 100% subsidiary of PTSL. M/s Pyxis approached the Capital Markets with its maiden Initial Public Offering in June 2000.
