Indian ferroalloy producer Facor Alloys Limited will indefinitely shut down its plant in the southern state of Andhra Pradesh with effect from July 15, the company stated in a regulatory filing on Wednesday, July 5.
The company said that the decision to shut down the plant was taken due to the steep rise in power tariffs from the state electricity distribution company “resulting in the unviable situation of running plant operations in view of the high cost and negative margin at the current market price of ferroalloys”.
The company operates three submerged electric arc furnaces of 75MVA each for production of 72,000 mt per year of ferrochrome HC.