Anupam Rasayan India has issued a letter of intent (LoI) to install solar power plant by investing a sum of Rs 43 crore.
The entire capital expenditure of Rs 43 crore will be funded from the company’s recently concluded IPO proceeds. The size of the plant will be 12.50 MW and cater to energy requirements of Anupam Rasayan’s major units. The company operates six manufacturing facilities in Gujarat.
The proposed solar plant will help it rationalise its energy costs through an estimated saving of around Rs 10 crore per annum for the next 25 years.