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| Exchange Disseminated Time 06/06/2016 17:57:20 | Prism Cement Ltd has informed BSE that the Company has agreed to acquire 15.23% (post acquisition) equity stake for approximately Rs. 21 Crores in BLA Power Private Limited ('BLA Power'), which is in the sole business of generating thermal power.
The Company shall enter into a Power Supply Agreement ('PSA') with BLA Power for the purchase and consumption of 25 MW of RTC (Round The Clock) power from BLA Power for its cement plants - Unit I and Unit II at Satna, Madhya Pradesh under the Group Captive Arrangement under the Electricity Rules, 2005.
This agreement is expected to reduce the cost of cement production. |
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