Sagar Cements Ltd will infuse an additional Rs 28 crore in the ongoing captive power production project and a new solar power plant.
Speaking to BusinessLine, S Sreekanth Reddy, Executive Director, said, “With this, the total investment in the plant under implementation will go up to about Rs 98 crore,”
The board of directors had approved the recommendation of its investment committee to revise the capacity of the coal-based power plant under implementation at its Mattampally plant from 15 MW to 18 MW with an additional investment of Rs 23.66 crore.
It will be funded through borrowings and internal accruals. The project is expected to be commissioned by March 2019.
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