Jhagadia copper due diligence

Future Tree is a global player in supply chain management for core sectors like metals, power, cement and mining. As a part of their expansion plan, Future Tree planned to acquire assets and enter the manufacturing arena.

Future Metals, a part of Future Tree group, identified Jhagadia Copper Limited as a target company for investment. Jhagadia Copper Limited is into manufacturing LME Grade copper using secondary copper smelting through Kaldo technology. Mott MacDonald was appointed to undertake a detailed Technical Due Diligence and assist in valuation of the asset.

Valuation of Bellary Steels and Alloys Limited

Bellary Steels and Alloys Limited (BSAL) are into manufacturing of Sponge Iron and Alloy Steel merchant sections and rods. BSAL planned to invest in an Integrated Steel Plant (ISP) having facilities for Sponge Iron, Steel Melting Shop (IF route), Rolling Mill and Captive Power Plant. The project envisaged an investment of about INR 10,000 million and was to be implemented in Bellary, Karnataka. Due to financial problems, the project implementation has been delayed by over 10 years. BSAL is currently under Asset Reconstruction Company India Limited (ARCIL). ARCIL appointed Mott MacDonald to undertake valuation of BSAL.

JSW West Bengal steel project appraisal

JSW is one of the major steel manufacturers in India. JSW has an operating plant at Vijaynagar, Karnataka. JSW has recently commissioned the largest Blast Furnace in the country having a volume of 4000 m3. JSW has identified Salboni, West Bengal for setting up an integrated steel plant with a capacity of 10 million MTPA. The land acquisition is complete and JSW is planning to start work on Iron Ore Beneficiation and Pelletisation plants together with development of Coal Mines. The proposed projects envisage an investment of Rs 40,000 million. Mott MacDonald was appointed to review the project documents and prepare an independent feasibility report.

Steel project appraisal

Expansion of Gujarat Foils Limited

Gujarat Foils Limited (GFL) is a public limited company, listed in Bombay Stock Exchange. GFL is into manufacture of aluminium rolled products with an installed capacity of 3,600 MTPA. The company owns its own brand and is known for its quality products. The product mainly finds application in product packaging. GFL planned to expand its capacity by about 3,000 MTPA at Gujarat. Mott MacDonald was appointed to prepare a feasibility report for the expansion plan.

BALCO expansion and disinvestment plan

BALCO is one of the major aluminium producers in India. BALCO was a Public Sector Enterprise having Bauxite Mines, Alumina Plant, Aluminium Smelter, Rolling Mill and Captive Power Plant. The entire facility is located in Korba in the state of Chhattisgarh. The Government of India, disinvested in BALCO which was acquired by Vedanta Group. After acquisition, Vedanta Group planned a major investment of about Rs 40,000 million in Aluminium Smelter and Captive Power Plant at Korba, Chhattisgarh. Mott MacDonald was appointed for valuation of assets including mines during disinvestment and later appointed by lenders to act as Lenders Independent Engineer for the expansion plan.

Viraj alloy steel feasibility

Viraj Alloys and Stainless Steel Private Limited (VASSPL) is a group company of Viraj Group, which is a major player in alloy and stainless steel business in India. VASSPL planned an investment of Rs 20,000 million in setting up a Stainless Steel Plant of 1 million MTPA at Maharashtra. The project envisaged manufacturing stainless steel flat products. Mott MacDonald was appointed to prepare the feasibility report for the project.

Meta Copper viability

Meta Copper & Alloys Limited (MCAL) is an export oriented unit engaged in manufacture of copper and copper alloy strips. Located near Mormugao port in the state of Goa, India, it has a very wide range of products to cater to requirements of various end-users primarily in electrical and electronic industry. Though MCAL has strong brand recognition, its financial performance is not in line with expectations of stakeholders. MCAL appointed Mott MacDonald to prepare a long term viability plan including fresh investments for backward and forward integration.

Konkola Copper Mines Plc (KCM) is the largest mining and metals company in Zambia, Africa with an annual capacity of 2, 00,000 metric tonnes of copper. Detailed engineering, engineering co-ordination and project management are some of the services we have provided for Konkola Copper Mines Smelter project. This is an expansion cum modernizing of electrolytic copper refining plant

Strategic investment in Remi Metals Gujarat Limited

Rajendra Electric Motor Industries (REMI Group) started operations in 1960 with manufacturing of HP motors and laboratory stirrers. REMI Group diversified into manufacturing TEFC Squirrel Cage Motors, Helical Geared Motors, Car Fans, Industrial Liquid Mixers/Stirrers, Alloy Steel Bright Bars, Welded Seamless Stainless Tubes/Pipes and Solid Control Systems. REMI Group acquired technical know-how through seven technical collaborations with industrial leaders in US, Japan and Germany.

During 1990’s to fuel its growth plans REMI Group decided to enter the Alloy Steel and Tubular products business by starting REMI Metals Gujarat Limited (RMGL). RMGL commissioned an integrated steel project with seamless pipe facility at Bharuch, Gujarat in 1995-96. However, due to unfavourable market conditions, the operations were suspended during March 1997 till September 2003. The company restored full operations from January 2004, but was facing financial and technical problems.

A US investor was looking at REMI for strategic investment. Mott MacDonald was appointed to undertake Due Diligence of REMI’s operations and carry out valuation.

Topworth Group expansion plan

Topworth Group planned to enter the steel business through a mix of organic and inorganic route. The Group envisages a capacity of about 0.5 million MTPA through its various companies . The Group also has Iron Ore and Coal mines together with Captive Power Plant. Mott MacDonald was retained to prepare feasibility reports for the expansion at Durg, Chhattisgarh and Nagpur, Maharashtra. The expansion included beneficiation plant, pelletisation plant, coal washery, sponge iron plant, steel melting shop using EAF & IF, rolling mill for structural and bars and rods and captive power plant.