Kothaguem: Nava Bharat Venture Limited CEO Ashwin Devineni turns 50, lines up major spend

Kothaguem: Nava Bharat Venture Limited Chief Executive Officer (CEO) Ashwin Devineni expressed happiness at the company turning 50 years.

Speaking to the media people at the company at Palvoncha on Sunday, he said the company was established in 1972 as in India Ferroalloys Manufactures. It has grown into a multinational company over the years, operating in India, South East Asia and Africa.

It currently produces over 2,00,000 tonnes of ferroalloys every year, and also operatesa few power plants. It is also engaged in production of ethanol.

As part of its effort to give something back to societyas part of corporate social responsibility, the company is investing in health care, education, livelihoods and rural initiatives, Devineni said.

"We plan to invest $100 million in phases over the next three years. Apart from ferro alloys, we have been making a few investments in the agricultural and healthcare sectors. We intend to mobilse required funds for investments through internal accruals and debt," he added.