Monnet Ispat managed by the Monnet group, was promoted jointly by Sandeep Jajodia and Jindal Strips in 1990. The c company is in the business of sponge iron, char and M S ignots, power generation and ferro alloys. It also has a coal mining division. The Monnet story started with the commissioning of 0.1 million tone per annum (TPA) sponge iron plant, set up at one-fourth of the cost required for similar plants. With the addition of a second rotary kiln, Monnet had ensured augmentation of a capacity to 0.23 million TPA, additionally two rotary kilns were commissioned. Monnet currently produces 0.3 million TPA of sponge iron; over 0.3 million TPA of steel, ferro alloys, coal mining aided by captive power generation. Monnet has signed a MoU with the Chhattisgarh State Industrial Development Corporation (CSIDC), an investment agency of the Government of Chhattisgarh, for undertaking steel and allied projects in Raipur and Raigarh, upto a proposed investment of Rs. 11.6 billion. Monnet plans to expand its business at Raigarh (Chattisgarh), in the future. This new sponge iron plant will have a capacity of 0.5 million TPA. The company wants to set up two units of 300 mw each at a total investment of Rs 24 billion and plans to set up a 600 MW pithead coal-based power plant in Orissa . The plant will source coal from the Utkal B2 captive coal block in the Talcher coalfields.
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