Established in 1994 under the dynamic leadership of Chairman & Managing Director, Monnet Ispat & Energy Limited (MIEL), Mr. Sandeep Jajodia, MIEL's de-risked business portfolio encompasses manufacturing and marketing of Sponge Iron, Steel and Ferro Alloys. MIEL is also engaged in mining of minerals like Coal & Iron Ore, besides generation of power for captive consumption.
Setting up its first Sponge Iron Unit with a capacity of 1 lac Tons Per Annum (MTPA), MIEL, the flagship company of the Monnet Group of Industries, has grown by leaps and bounds over the past 18 years to emerge as the second largest coal-based sponge iron producer in the country. The company is aggressively expanding and is constantly adding value to the area of operations by leveraging its competitive edge of having backward and forward integration of operations.
MIEL is coming up with a 1.5 Million Tons Per Annum (MTPA) integrated steel plant to produce plates, HR coils and rebars at its facility at Raigarh to cater to the rapidly growing infrastructure & construction industry.
MIEL is currently generating power for captive consumption and the company has set up a 60 MW power plant at Raipur & a 90 MW power plant in Raigarh. It has enhanced the power generation capacity at its Raigarh plant from 90 MW to 170 MW thereby taking the total capacity to 230 MW to meet its future captive power requirements. The Group has additional 12 MW in its subsidiary, Rameshwaram Steel & Power Private Limited.
MIEL has taken a rapid stride forward from generating power for captive consumption to enhancing power generation capacities for merchant selling through its subsidiary Monnet Power Company Limited (MPCL) by setting up thermal power plant of IPP of 1050 MW backed with captive coal mine in Angul, Orissa. The capacity is further being enhanced to 1710 MW by adding additional 660 MW at the same site. The power generated from this power plant would be sold on merchant basis and would contribute to the ever growing energy demand of the nation.
MIEL has a strong presence in the Mining segment and owns and operates the single largest underground coal mine in India. With the aim to reduce dependence on market vagaries and to cut down the cost of the vital raw materials for its sponge iron and power plants, Monnet has acquired many coal, iron ore and limestone blocks to emerge as a highly backward integrated player.The Company has Coal Blocks like Gare Palma IV/5, Utkal B2, Urtan North, Raigmar dipside block and Mandakini.Expanding its horizons beyond the country's frontiers, MIEL through its 100 % owned subsidiary Monnet Global Limited (MGL), completed the acquisition of Indonesian Coal Company - PT Sarwa Sembada Karya Bumi, in the Jambi province of Sumatra, Indonesia.
Monnet Group also carries out extensive coal washing and beneficiation for its internal consumption as well as for other users, both in the public and private sectors. The Company's services in this field extend from concept to commissioning under a single roof, and operation of washery both in coking and non-coking sectors.