India: Prism Cement acquires stake in BLA Power

India: Prism Cement acquires stake in BLA Power
07 June 2016


Prism Cement has agreed to acquire 15.23 per cent equity stake for approximately INR210m (US$3.14m) in BLA Power, which is in the sole business of generating thermal power.

The company will enter into a power supply agreement with BLA Power for the purchase and consumption of 25MW of RTC (round the clock) power from BLA Power for its Unit I and II cement plants at Satna, Madhya Pradesh, under the Group Captive Arrangement of the Electricity Rules, 2005. This agreement is expected to reduce the cost of cement production.


Published under Cement News

Tagged Under: India Prism Cement